Refined soya oil rise 0.38 pc in futures trade

Refined soya oil prices edged higher by 0.38 per cent to Rs 573.75 per 10 kg in futures trading today as speculators indulged in creating fresh positions, tracking a firm trend at spot market on pickup in demand.
Refined soya oil for delivery in far-month August rose by Rs 2.20 or 0.38 per cent to Rs 573.75 per 10 kg with an open interest of 133,225 lots at the National Commodity and Derivatives Exchange.
In a similar fashion, the oil for delivery in June contracts edged up by Rs 2 or 0.34 per cent to Rs 586.60 per 10 kg in 107,095 lots.

Market analysts said fresh positions built-up by speculators due to pickup in demand in the spot market, mainly led to the rise in refined soya oil prices at futures trade.
They said restricted arrivals from producing belts further fuelled the uptrend.