Rising demand lifts refined soya oil futures by 0.50%

Amid rising domestic demand and restricted supplies from producing regions, refined soya oil prices traded higher by 0.50 per cent to Rs 676.15 per 10 kg in futures trade today as participants enlarged positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December went up by Rs 3.35, or 0.50 per cent, to Rs 676.15 per 10 kg, with an open interest of 64,240 lots.
On similar lines, the oil for delivery in November traded higher by Rs 2.10, or 0.31 per cent, to Rs 670 per 10 kg in 27,350 lots.
Analysts said besides rising demand in the spot market, tight stocks position on fall in supplies from producing belts mainly led to the rise in refined soya oil prices at futures trade.