Refined soya oil futures gain 0.37% on spot demand

Refined soya oil prices were up by 0.37 per cent to Rs 641 per 10 kg in futures trade today as speculators built up fresh positions following pick up in domestic demand at the spot markets.

Moreover, tight stocks position on fall in supplies from producing regions too fuelled the uptrend.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 2.35, or 0.37 per cent, to Rs 641 per 10 kg, with an open interest of 9,880 lots.

Similarly, the oil for delivery in September traded higher by 90 paise, or 0.14 per cent, to Rs 651.30 per 10 kg in 53,410 lots.

Analysts said fresh positions created by traders after demand picked up in the physical market against restricted arrivals from producing regions, mainly helped refined soya oil prices to go up at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)