Tight supply lifts refined soya oil futures 0.57%

Refined soya oil prices were up 0.57 per cent to Rs 638.70 per 10 kg in futures trading today, as traders enlarged positions, triggered by tight supplies from producing regions at spot market against pick up in demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month January 2016 rose by Rs 3.60, or 0.57 per cent, to Rs 638.70 per 10 kg, with an open interest of 84,570 lots.
Similarly, the oil for delivery in December was trading higher by Rs 3.15, or 0.50 per cent, to Rs 633.80 per 10 kg in 40,380 lots.

Analysts said the rise in refined soya oil prices at futures trade was mostly attributed to tight stocks on restricted supplies from producing regions in the physical market amid pick up in demand.