Refined soya oil futures rise 0.52% as demand picks up

Amid pick-up in domestic demand and tight supplies from producing belts, refined soya oil prices were up 0.52 per cent to Rs 573.90 per 10 kg in futures trade today.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month November was up by Rs 295, or 0.52 per cent to Rs 573.90 per 10 kg with an open interest of 37,445 lots.
Likewise, the oil for delivery in October contracts edged up by Rs 1.65, or 0.29 per cent to Rs 575.80 per 10 kg in 79,105 lots.
Market analysts said apart from a firm trend at spot market on pickup in demand, restricted supplies from producing belts led to rise in refined soya oil prices in futures trade.