Refined soya oil rises as demand picks up

Amid pick up in domestic demand at spot markets and restricted supplies from producing regions, refined soya oil prices were up by 0.15 per cent to Rs 644.60 per 10 kg in futures trade today as speculators built up fresh positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September edged higher by 95 paise, or 0.15 per cent to Rs 644.60 per 10 kg with an open interest of 47,620 lots.
Likewise, the oil for delivery in September traded higher by 20 paise, or 0.03 per cent to Rs 639.50 per 10 kg in 34,090 lots.

Analysts said fresh positions created by traders after demand picked up in the physical market against restricted supplies from producing regions led to the uptrend in refined soya oil prices at futures trade.