Refined soya oil futures rise 0.18% as demand picks up

Refined soya oil prices rose 0.18 per cent to Rs 739.50 per 10 kg in futures trade today as speculators built up fresh positions amid pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, the oil for delivery in January edged Rs 1.30, or 0.18 per cent, higher to Rs 739.50 per 10 kg with an open interest of 21,690 lots.
Similarly, the oil for delivery in February contracts traded higher by 25 paise, or 0.03 per cent, at Rs 742.60 per 10 kg in 29,560 lots.
Analysts said fresh positions created by traders due to uptick in demand in the physical market against tight stocks on restricted supplies from producing belts led to the rise in prices.