Robust demand lifts refined soya oil futures by 0.67 pc

Refined soya oil prices rose by 0.67 percent to Rs 747.50 per 10 kg in futures trade today as speculators created fresh positions amid pick up in demand at the domestic spot market and restricted supplies from growing regions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October hardened by Rs 4.95, or 0.67 percent, to Rs 747.50 per 10 kg with an open interest of 25,970 lots.

Similarly, the oil for delivery in September gained Rs 4.10, or 0.55 percent, to Rs 744.50 per 10 kg in 31,560 lots.

Analysts said fresh positions built up by traders on the back of upsurge in demand in the spot market against restricted supplies from producing belts helped refined soya oil prices to trade higher in futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)