Refined soya oil futures rise 0.23 pc as demand picks up

Refined soya oil prices edged up by 0.23 per cent to Rs 667.55 per 10 kg in futures trading today as speculators created fresh positions supported by pick up in demand.
Besides, tight stocks position on fall in supplies from producing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October rose Rs 1.55, or 0.23 per cent, to Rs 667.55 per 10 kg with an open interest of 26,200 lots.
On similar lines, the oil for delivery in September edged up by 90 paise, or 0.14 per cent, to Rs 657.75 per 10 kg in 48,710 lots.

Analysts said fresh positions created by traders following upsurge in demand in the physical market against restricted arrivals from producing regions, mainly led to the rise in refined soya oil prices at futures trade.