Refined soya oil futures rise 0.39% as demand picks up

Amid pick up in domestic demand against restricted supplies from producing regions, refined soya oil prices were up by 0.39 per cent to Rs 625.55 per 10 kg in futures trade today as speculators enlarged positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May rose by Rs 2.45, or 0.39 per cent, to Rs 625.55 per 10 kg, with an open interest of 53,800 lots.
Likewise, the oil for delivery in April moved up by Rs 2.40, or 0.38 per cent, to Rs 637.50 per 10 kg in 34,830 lots.
Analysts said widening of positions by traders following pick up in demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly attributed the rise in refined soya oil prices at futures trade.