Upsurge in demand lifts refined soya oil futures by 0.45%

Refined soya oil prices moved up by 0.45 per cent to Rs 613.60 per 10 kg in futures trade today as traders built up fresh positions amid firm trend at spot market on pick up in demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June went up by Rs 2.75, or 0.45 per cent, to Rs 613.60 per 10 kg, with an open interest of 51,150 lots.
On similar lines, the oil for delivery in May was trading higher by Rs 1.95, or 0.32 per cent, to Rs 612.40 per 10 kg in 35,180 lots.

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