Uptick in demand lifts refined soya oil futures by 1.25 pc

Refined soya oil prices climbed by 1.25 per cent to Rs 633.20 per 10 kg in futures trade today as participants built up fresh positions, tracking a firm trend at the spot market on upsurge in demand.
Tight stocks position in the physical market on restricted supplies from producing regions also supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month March jumped Rs 7.80, or 1.25 per cent, to Rs 633.20 per 10 kg with an open interest of 69,400 lots.
Likewise, the oil for delivery in February contracts traded higher by Rs 3.50, or 0.57 per cent, to Rs 621 per 10 kg in 4,950 lots.

Analysts attributed the rise in refined soya oil prices at futures trade to uptick in demand in the spot market against restricted supplies from the growing regions.