Uptick in demand lifts refined soya oil futures by 0.24 pc

Refined soya oil prices were trading up by 0.24 per cent to Rs 639.40 per 10 kg in futures trading today as participants indulged in creating fresh positions amid pick-up in demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May rose Rs 1.50, or 0.24 per cent to Rs 639.40 per 10 kg with an open interest of 45,910 lots.
Similarly, the oil for delivery in April gained Rs 1.45, or 0.22 per cent, to Rs 650 per 10 kg in 47,670 lots.
Analysts said, building up of fresh positions by traders following upsurge in demand in the spot market against restricted supplies from producing belts, mainly led to the rise in refined soya oil prices at futures trade.