Spot demand lifts refined soya oil futures by 0.70 pc

Refined soya oil prices were up by 0.70 per cent to Rs 634.35 per 10 kg in futures trade today as participants built up fresh positions, driven by pick up in demand in the spot market.
Tight stocks position on restricted supplies from producing regions also supported the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 4.40, or 0.70 per cent to Rs 634.35 per 10 kg with an open interest of 1,07,240 lots.
Similarly, the oil for delivery in July traded higher by Rs 3.80, or 0.61 per cent to Rs 628.10 per 10 kg in 12,930 lots.

Analysts said fresh positions created by traders after pick-up in demand in the spot market against restricted supplies from producing belts, mainly led to rise in refined soya oil prices at futures trade.