Refined soya oil futures gain 0.62% as demand picks up

Amid pick up in domestic demand and restricted supplies from growing regions, refined soya oil were up by 0.62 per cent to Rs 688.40 per 10 kg in futures trading today as participants built up fresh positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December month went up by Rs 4.25, or 0.62 per cent, to Rs 688.40 per 10 kg with an open interest of 50,220 lots.
On similar lines, the oil for delivery in far-month January 2017 was trading higher by a similar margin to Rs 687.70 per 10 kg in 24,090 lots.

Marketmen said fresh positions created by participants after uptick in demand in the spot market against restricted supplies from producing belts mainly led to the rise in refined soya oil prices at futures trade.