Refined soya oil futures gain 0.66% on spot demand

Refined soya oil prices were up 0.66 per cent to Rs 732.8 in futures market Monday as speculators created fresh bets, taking positive cues from spot market on pick-up in demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June contracts rose by Rs 4.8, or 0.66 per cent, to Rs 732.8 with an open interest of 3,5240 lots.

Likewise, the oil for delivery in July contracts was up by Rs 3.85, or 0.54 per cent, to Rs 722.4 per 10 kg in 27,930 lots.

Analysts said fresh positions built up by traders due to pick-up in demand in the physical market against restricted supplies from producing belts mainly influenced refined soya oil prices.