Uptick in spot demand lifts refined oil futures by 0.21%

Amid pick up in demand at the domestic physical markets and restricted arrivals from producing regions, refined soya oil prices were up by 0.21 cent to Rs 725.40 per 10 kg in futures trade today as traders built up fresh positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January month rose by Rs 1.55, or 0.21 per cent to Rs 725.40 per 10 kg with an open interest of 21,350 lots.
On similar lines, the oil for delivery in February contracts was trading higher by Rs 1.45, or 0.20 per cent to Rs 717.30 per 10 kg in 32,080 lots.

Analysts said fresh positions created by participants due to pick up in demand in the physical market against restricted supplies from producing belts, mainly led to the rise in refined soya oil prices at futures trade.