Refined soya oil futures rise 0.41% as demand picks up

Amid pick up in domestic demand and restricted supplies from producing regions, refined soya oil prices traded higher by 0.41 per cent to Rs 614.10 per 10 kg in futures trade today as traders enlarged positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March month edged up by Rs 2.50 or 0.41 per cent to Rs 614.10 per 10 kg with an open interest of 4,470 lots.
Similarly, the oil for delivery in far-month April contracts traded higher by Rs 1.70, or 0.27 per cent to Rs 621.80 per 10 kg in 77,610 lots.

Analysts said participants enlarging positions on the back of pick up in demand in the spot market against restricted supplies from producing regions, mainly influenced refined soya oil prices at futures trade.