Refined soya oil futures recover 0.41% on pick up in demand

Refined soya oil prices were up by 0.41 per cent to Rs 604.40 per 10 kg in futures trade today as traders indulged in creating fresh positions after pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January month rose by Rs 2.45, or 0.41 per cent to Rs 604.40 per 10 kg with an open interest of 50,320 lots.
Likewise, the oil for delivery in far-month February traded higher by Rs 2.35, or 0.39 per cent to Rs 601.70 per 10 kg in 1,02,890 lots.
Market analysts attributed the rise in refined soya oil futures to pick up in demand at the spot market against restricted supplies from producing belts.