Rising demand lifts refined soya oil futures by 0.85%

Refined soya oil prices were up by 0.85 per cent to Rs 631.90 per 10 kg in futures market today as speculators enlarged positions, tracking a firm trend at spot market on strong demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May month went up by Rs 5.35, or 0.85 per cent to Rs 631.90 per 10 kg with an open interest of 58,980 lots.
On similar lines, the oil for delivery in April contracts traded higher by Rs 4.15, or 0.65 per cent, to Rs 642.50 per 10 kg in 32,750 lots.
Analysts said widening of positions by traders on the back of rising demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly led to the rise in refined soya oil prices at futures trade.