Refined soya oil futures rise 2.15% as demand picks up

Supported by pick up in demand at domestic spot market against restricted supplies from growing regions, refined soya oil prices traded higher by 2.15 per cent to Rs 771.60 per 10 kg in futures market today as speculators created fresh positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March rose by Rs 16.25, or 2.15 per cent to Rs 771.60 per 10 kg with an open interest of 29,470 lots.
Similarly, the oil for delivery in April contracts was trading higher by Rs 15.70, or 2.06 per cent, to Rs 777.25 per 10 kg in 31,010 lots.

Analysts said fresh positions built up by traders due to uptick in demand in the physical market against tight stocks position on restricted supplies from producing belts pushed up refined soya oil prices in futures trade.