Refined soya oil futures rebound 0.73% on spot demand

Refined soya oil prices recovered by 0.73 per cent to Rs 660.30 per 10 kg in futures market today as participants built up fresh positions, driven by pick up in demand in the spot market.
Furthermore, tight stocks position on restricted supplies from producing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month May rose by Rs 4.80, or 0.73 per cent to Rs 660.30 per 10 kg with an open interest of 83,730 lots.
Likewise, the oil for delivery in April contracts moved up by Rs 3.10, or 0.48 per cent to Rs 651.10 per 10 kg in 5,180 lots.

Analysts said widening of positions by traders due to pick up in demand in the spot market against restricted supplies from producing regions mainly led to the recovery in refined soya oil prices at futures trade.