Amid pick up in demand at the domestic spot market against restricted arrivals from producing regions, refined soya oil prices edged higher by 0.13 per cent to Rs 747.80 per 10 kg in futures trade Thursday as speculators raised bets.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October rose by Re 1, or 0.13 per cent, to Rs 747.80 per 10 kg with an open interest of 34,250 lots.
Likewise, the oil for delivery in September contracts edged up by 85 paise, or 0.11 per cent, to Rs 743.70 per 10 kg in 27,800 lots.
Analysts said widening of positions by traders, triggered by improved demand in the spot market against restricted supplies from producing belts attributed to the rise in refined soya oil prices in futures trade.
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