Refine soya oil futures rise in rising demand

Refined soya oil futures prices gained Rs 5.45 to Rs 571.30 per 10 kg, as traders and speculators enlarged their positions, driven by a firm trend at spot markets.

At the Multi Commodity Exchange counter, refined soya oil for November delivery gained Rs 5.45, or 0.96 per cent to Rs 571.30 per 10 kg, with an open trade of just one lot.  

Similarly, the oil for delivery in December contract added Rs 4.50, or 0.78 per cent to Rs 583.05 per 10 kg, with an open trade of just one lot.

Analysts said speculators enlarging their positions on rising demand in the spot market ahead of marriage season, pushed up refined soya oil futures prices.