Tight supply lifts refined soya oil futures by 0.38%

Supported by tight supplies from producing regions amid pick-up in demand at spot market, refined soya oil prices edged higher by 0.38 per cent to Rs 596.65 per 10 kg in futures trade today.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October rose by Rs 2.25, or 0.38 per cent, to Rs 596.65 per 10 kg with an open interest of 52,605 lots.
On similar lines, the oil for delivery in November was trading higher by Rs 1.45, or 0.25 per cent, to Rs 590.40 per 10 kg in 49,960 lots.
Market analysts said besides pick-up in demand in the spot market, fall in supplies from producing belts led to the rise in refined soya oil prices in futures trade.