Surge in demand lifts refined soya oil futures by 0.74%

Refined soya oil prices were up by 0.74 per cent to Rs 629.55 per 10 kg in futures trade today as participants built up fresh positions amid pick up in demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July rose by Rs 4.60, or 0.74 per cent, to Rs 629.55 per 10 kg with an open interest of 44,200 lots.
Likewise, the oil for delivery in August contracts was trading higher by Rs 4.25, or 0.68 per cent, to Rs 630.90 per 10 kg in 30,730 lots.
Analysts said fresh positions created by traders due to uptick in demand in the physical market, mainly led to rise in refined soya oil prices at futures trade.