Refined soya oil futures rise on pick up in demand

Amid pick up in demand at domestic spot market and restricted supplies from producing regions, refined soya oil prices traded higher by 0.33 per cent to Rs 658.20 per 10 kg in futures trade today as traders created fresh position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month November went up by Rs 2.15, or 0.33 per cent to Rs 658.20 per 10 kg with an open interest of 50,950 lots.
Similarly, the oil for delivery in October contracts edged up by 85 paise, or 0.13 per cent to Rs 654.20 per 10 kg in 49,840 lots.

Analysts said fresh positions built up by participants amid pick up in demand in the spot market against restricted supplies from producing belts mainly led to rise in refined soya oil prices at futures trade.