Upsurge in demand lifts refined soya oil futures by 1.43%

Refined soya oil prices shot up by 1.43 per cent to Rs 685.50 per 10 kg in futures trading today as participants built up fresh positions, tracking a firm trend at spot market on uptick in demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December surged by Rs 9.65, or 1.43 per cent to Rs 685.50 per 10 kg with an open interest of 50,590 lots.
On similar lines, the oil for delivery in November contracts moved up by Rs 6.95, or 1.04 per cent to Rs 677 per 10 kg in 13,570 lots.

Analysts said building of positions by traders on the back of upsurge in demand in the spot market against tight supplies from producing regions mainly pushed up refined soya oil prices at futures trade.