Refined soya oil futures rise 0.41% on spot demand

Refined soya oil prices were up by 0.41 per cent to Rs 692 per 10 kgs in futures trade today as traders built up fresh positions after uptick in demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March month rose by Rs 2.85, or 0.41 per cent to Rs 692 per 10 kg with an open interest of 44,420 lots.
Similarly, the oil for delivery in February contracts gained Rs 2.25, or 0.32 per cent to Rs 702.70 per 10 kg in 28,200 lots.
Marketmen said fresh positions created by participants amid upsurge in demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly led to rise in refined soya oil prices at futures trade.