Refined soya oil edges up in futures trade

Refined soya oil edged up by Rs 2.50 to Rs 664.10 per 10 kg in futures market today in tandem with firming trend at the spot market on rising demand.

At the Multi Commodity Exchange, refined soya oil for March contract gained Rs 2.50, or 0.38 per cent, to Rs 664.10 per 10 kg, with a business volume of single lot.

Similarly, the oil for delivery in February traded higher by Rs 1.85, or 0.28 per cent, to Rs 654.80 per 10 kg, with a business volume of one lot.

Analysts said increased buying by speculators on rise in demand in the spot market helped refined soya oil prices to trade higher at futures market here.