Refined soya oil futures recover 0.78% on spot demand

Refined soya oil prices edged up by 0.78 per cent to Rs 638.10 per 10 kg in futures market today as participants built up fresh position amid pick up in demand in the spot market.
Besides, tight stocks position on restricted supplies from producing belts supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month July went up by Rs 4.95, or 0.78 per cent to Rs 638.10 per 10 kg with an open interest of 1,10,690 lots.
Similarly, the oil for delivery in June contracts traded marginally higher by 45 paise, or 0.07 per cent to Rs 628.50 per 10 kg in 3,260 lots.

Analysts said fresh positions created by traders due to pick up in demand in the spot market mainly led to the rise in refined soya oil prices at futures trade.