Refined soya oil futures up on spot demand

In restricted activity, refined soya oil prices moved up by Rs 1.40 to Rs 647.40 per 10 kg in futures trading today as speculators created fresh positions on hopes of a rise in demand in the spot market.   

At the Multi Commodity Exchange, refined soya oil for delivery in July moved up by Rs 1.40, or 0.22%, to Rs 647.40 per 10 kg, with a business turnover of seven lots.  

Market analysts said fresh buying by speculators on expectations of a rise in spot market demand mainly led to the rise in refined soya oil futures prices.