Refined soya oil futures rise on spot demand

Refined oil futures prices rose by Rs 3.20 to Rs 577.10 per 10 kg today, as traders enlarged their positions to meet the ongoing marriage season demand.

Restricted arrivals from overseas markets also supported the rise in prices.

At the Multi Commodity Exchange counter, refined soya oil for January contract rose by Rs 3.20, or 0.56 per cent, to Rs 577.10 per 10 kg. 

Similarly, the oil for delivery in December contract gained by Rs 3.20, or 0.56 per cent, to Rs 577.10 per 10 kg.

Analysts said increased buying by speculators to meet the marriage season demand in the spot market, mainly led to a rise in refined soya oil prices at the futures trade.