Refined soya oil up 1.5% on spot demand

Refined soya oil prices were up by 1.45% to Rs 655.90 per 10 kg in futures trade today as participants enlarged positions, tracking a firm trend at spot market on upsurge in demand.

Besides, tight stocks position on restricted supplies from producing regions supported the upside.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month September rose by Rs 9.35, or 1.45% to Rs 655.90 per 10 kg with an open interest of 61,900 lots.

Similarly, the oil for delivery in August contracts traded higher by Rs 7.75, or 1.22% to Rs 642.10 per 10 kg in 10,350 lots.
 
Traders said besides uptick in demand in the spot market, restricted supplies from producing belts mainly led to rise in refined soya oil prices at futures trade.