Supported by upsurge in demand in the spot market against restricted supplies from producing regions, refined soya oil prices traded higher by 0.83 per cent to Rs 650 per 10 kg in futures trade today as speculators built up fresh positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month June rose by Rs 5.35, or 0.83 per cent to Rs 650 per 10 kg with an open interest of 1,01,520 lots.
In a similar fashion, the oil for delivery in May traded higher by Rs 5.15, or 0.81 per cent to Rs 639.45 per 10 kg in 41,680 lots.
Analysts said besides upsurge in demand in the spot market, tight stocks position on restricted supplies from producing belts mainly pushed up refined soya oil prices at futures trade.
