Uptick in demand lifts refined soya oil futures by 1.63%

Refined soya oil prices surged by 1.63 per cent to Rs 653 per 10 kg in futures trade today as participants enlarged their bets, tracking a firm trend at spot market on the back of upsurge in demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month May shot up by Rs 10.50, or 1.63 per cent to Rs 653 per 10 kg with an open interest of 75,560 lots.
Similarly, the oil for delivery in April contracts climbed by Rs 8.25, or 1.30 per cent to Rs 643 per 10 kg in 29,020 lots.

Analysts apart from a firming trend at spot market on strong demand, restricted supplies from producing belts mainly pushed up refined soya oil prices at futures trade.