Rising demand lifts refined soya oil in futures trade

NEW DELHI, Aug 14:  Supported by spurt in demand at spot market and tight supplies from producing belts, refined soya oil prices were higher 0.72 per cent to Rs 583 per 10 kg in futures trade today as participants built up fresh positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 4.15, or 0.72 per cent to Rs 583 per 10 kg with an open interest of 50,670 lots.
In a similar fashion, the oil for October contracts traded higher by Rs 3.15, or 0.56 per cent to Rs 563.90 per 10 kg in 91,620 lots.
Market analysts said apart from pickup in demand at the spot market, restricted supplies from producing belts led to rise in refined soya oil prices in futures trade. (PTI)


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