Refined soya oil futures trade higher on spot demand

Refined soya oil futures prices gained Rs 3.45, or 0.72 per cent, to Rs 482.30 per 10 kg today on firm demand in the spot market due to festive season.

At the Multi Commodity Exchange counter, refined soya oil for November delivery gained Rs 3.45, or 0.72 per cent, to Rs 482.30 per 10 kg, with an open interest of 27 lots.  

The oil for delivery in September traded higher by Rs 0.95, or 0.20 per cent, to Rs 474 per 10 kg, with an open interest of 236 lots.

Market analysts said increased buying by speculators on pick up in demand in the spot market in view of festive season helped the refined soya prices to trade higher at futures markets.