Refined soya oil futures rise 1.40% on spot demand

Refined soya oil futures raided higher by 1.40 per cent to Rs 664.65 per 10 kg today as traders built up fresh positions after pick up in demand in the spot market.
Besides, tight stocks position on restricted supplies from producing belets supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month June rose by Rs 9.15, or 1.40 per cent to Rs 664.65 per 10 kg with an open interest of 111430 lots.
Likewise, the oil for delivery in May contracts moved up by Rs 6.90, or 1.07 per cent to Rs 650.60 per 10 kg in 28,620 lots.

Analysts said fresh positions created by participants due to pick up in demand in the spot market mainly led to the rise in refined soya oil prices at futures trade.