Upsurge in demand lifts refined soya oil futures by 1.52%

Amid pick up in domestic demand and restricted supplies from producing regions, refined soya oil prices traded higher by 1.52 per cent to Rs 855.50 per 10 kg in futures trade today as speculators enlarged positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month October shot up by Rs 9.80, or 1.52 per cent to Rs 855.50 per 10 kg with an open interest of 49,600 lots.
On similar lines, the oil for delivery in September contracts traded higher by Rs 8.25, or 1.29 per cent to Rs 647.90 per 10 kg in 39,050 lots.

Analysts said besides uptick in demand in the spot market, restricted supplies from producing belts mainly pushed up refined soya oil prices at futures trade.