Refined soya oil futures rise 0.39% on good spot demand

Refined soya oil prices advanced by 0.39 per cent to Rs 655 per 10 kg in futures trading today as speculators engaged in building up positions, taking positive cues from spot market on strong demand.

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 September gained Rs 2.55, or 0.39 per cent to Rs 655 per 10 kg with an open interest of 47,760 lots.

Likewise, the oil for delivery in August contracts edged up by 85 paise, or 0.13 per cent to Rs 639.95 per 10 kg in 6990 lots.

Analysts said raising of bets by traders following pick up in demand in the physical market against restricted arrivals from producing regions, mainly kept refined soya oil prices higher at futures trade.

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