Refined soya oil futures rise 0.23% as demand picks up

Supported by pick up in demand, refined soya oil prices edged up by 0.23 per cent to Rs 667.55 per 10 kg in futures trading today as speculators built up fresh positions.

Besides, 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 October month rose by Rs 1.55, or 0.23 per cent, to Rs 667.55 per 10 kg with an open interest of 26,200 lots.

On similar lines, the oil for delivery in September contracts edged up by 90 paise, or 0.14 per cent to Rs 657.75 per 10 kg in 48,710 lots.

Analysts said fresh positions created by traders following upsurge in demand in the physical market against restricted arrivals from producing regions, mainly led to rise in refined soya oil prices at futures trade.

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