Refined soya oil futures gain 0.34% as demand picks up

NEW DELHI: Refined soya oil prices traded marginally up by 0.34 per cent to Rs 559.85 per 10 kg in futures trading today as traders created fresh positions, driven by pick up in demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October moved up by Rs 1.90, or 0.34 per cent to Rs 559.85 per 10 kg with an open interest of 1,14,280 lots.

Likewise, the oil for delivery in September edged up by Rs 1.80, or 0.30 per cent to Rs 605.60 per 10 kg in 32,660 lots.

Analysts said fresh positions built-up by speculators after pick up in demand in spot markets against restricted arrivals from producing regions, mainly led to the rise in refined soya oil prices at futures trade.