Spot demand lifts refined soya oil futures by 0.22%

Refined soya oil prices moved up by 0.22 per cent to Rs 680 per 10 kg in futures trade today as participants built up fresh positions supported by pick up in demand against restricted supplies from producing belts.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February month went up by Rs 1.50, or 0.22 per cent to Rs 680 per 10 kg with an open interest of 54,310 lots.
Similarly, the oil for delivery in March contracts edged up by 75 paise, or 0.11 per cent to Rs 665.50 per 10 kg in 25,480 lots.

Analysts said fresh positions created by participants on the back of uptick in demand in the spot market against tight stock position mainly led to rise in refined soya oil prices at futures trade.