Refined soya oil futures gain on spot demand

Refined soya oil prices rose 0.29 percent to Rs 750.9 per 10 kg in the futures trade on Tuesday as traders created fresh positions in sync with positive demand at the spot market. On the National Commodity and Derivatives Exchange, refined soya oil for August contracts went up by Rs 2.2, or 0.29 percent, to Rs 750.9 per 10 kg with an open interest of 38,710 lots.

On similar lines, the oil for September contracts was trading higher by Rs 1.85, or 0.25 percent, to Rs 750.9 per 10 kg in 12,280 lots. Analysts said restricted supplies from growing belts encouraged traders to build up exposure leading to a rise in soya oil prices.