Refined soya oil futures up 0.47% on positive spot market cues

Refined soya oil prices advanced by 0.47 per cent to Rs 699.50 per 10 kg in futures trading today as participants engaged in building up of positions amid firm trend at spot market on rising demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December rose by Rs 3.30, or 0.47 per cent to Rs 699.50 per 10 kg with an open interest of 35,450 lots.
On similar lines, the oil for delivery in November traded higher by Rs 2.65, or 0.39 per cent to Rs 688.60 per 10 kg in 29,380 lots.
Analysts said raising of bets by traders following pick up in demand in the physical market against tight stocks position on fall in supplies from producing belts mainly kept refined soya oil prices higher at futures trade.