Soya oil futures up 1.27% on pick up in demand

Refined soya oil prices shot up by 1.27 per cent to Rs 643.50 per 10 kg in futures market today as participants raised their bets, tracking a firm trend at spot market following uptick in demand.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
In futures trading, refined soya oil for delivery in far-month May climbed by Rs 8,05, or 1.27 per cent to Rs 643.50 per 10 kg with an open interest of 66,330 lots at the National Commodity and Derivatives Exchange.
In the similar fashion, the oil for delivery in April contracts traded higher by Rs 7.80, or 1.24 per cent to Rs 638.50 per 10 kg in 37,970 lots.

Analysts attributed the rise in refined soya oil futures to pick up in demand in the spot market against restricted supplies from producing belts.