Refined soya oil futures rise 0.23% on spot cues

Refined soya oil prices were higher by 0.23 per cent to Rs 723.40 per 10 kg in futures trading today after speculators built up fresh positions amid uptick in demand at the domestic spot markets against restricted supplies from producing regions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January edged up by Rs 1.65, or 0.23 per cent to Rs 723.40 per 10 kg with an open interest of 35,240 lots.
On similar lines, the oil for delivery in February contracts was trading higher by Rs 1.70, or 0.23 per cent to Rs 729.20 per 10 kg in 31,610 lots.

Analysts said fresh positions created by traders due to upsurge in demand in the physical market against tight stocks position on fall in supplies from producing belts led to the rise in refined soya oil prices in futures trade.