Refined soya oil futures higher by 0.46% on positive cues from spot market

NEW DELHI: Rising for the second day in a row, refined soya oil prices today traded higher by 0.46 per cent to Rs 587.90 per 10 kg in futures trade today as speculators enlarged positions, taking positive cues from spot market on firm demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month August contract was trading higher by Rs 2.70, or 0.46 per cent, to Rs 587.90 per 10 kg with an open interest of 1,75,595 lots.

On similar lines, the oil for delivery in June contracts gained by Rs 2.35, or 0.39 per cent, to Rs 597.90 per 10 kg in 60,180 lots.

Analysts said besides rising demand in the spot market, tight supplies due to restricted arrivals from producing belts kept refined soya oil prices higher.