Upsurge in demand lifts refined soya oil futures 0.48 pc

Refined soya oil prices moved up by 0.48 per cent to Rs 644.60 per 10 kg in futures trade today as participants built up fresh positions amid pick-up in demand in the spot market amid restricted supplies from producing regions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July edged up by Rs 3.05, or 0.48 per cent, to Rs 644.60 per 10 kg with an open interest of 24,410 lots.
Likewise, the oil for delivery in August went up by Rs 2.90, or 0.45 per cent, to Rs 646.85 per 10 kg in 54,550 lots.

Analysts said building up of positions by traders due to pick-up in demand in the physical market against restricted supplies from growing regions mainly led to the rise in refined soya oil prices.