Refined soya oil up 0.2% on pick-up in demand

Refined soya oil traded higher by 0.25% to Rs 695.40 per 10 kg in futures trade today as speculators created positions amid pick-up in domestic demand due to the ongoing marriage season.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May rose by Rs 1.70, or 0.25%, to Rs 695.40 per 10 kg with an open interest of 52,580 lots.

Similarly, the oil for delivery in May edged up by Rs 1.55, or 0.22%, to Rs 704.65 per 10 kg in 87,310 lots.

Analysts said speculators created fresh positions on pick-up in demand in the spot market, supported by ongoing wedding season that led to the rise in refined soya oil prices at futures trade.