Refined soya oil futures gain 0.45 pc on spot demand

Refined soya oil prices rose 0.45 per cent to Rs 665.40 per 10 kg in futures trading today as speculators created fresh positions, taking positive cues from spot market on pick up in demand.
Tight supplies in the physical market on restricted arrivals from producing belts also supported the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 3, or 0.45 per cent to Rs 665.40 per 10 kg with an open interest of 21,900 lots.
Likewise, the oil for delivery in September edged up by Rs 1.80, or 0.27 per cent to Rs 656.80 per 10 kg in 1,15,310 lots.

Market analysts said fresh positions created by speculators amidst pick up in demand in the spot markets, mainly led to the rise in refined soya oil prices at futures trade.