Refined soya oil futures up on rising demand

Refined soya oil futures prices today rose by Rs 5.15 to Rs 726.70 per 10 kg, largely in tandem with a pick-up in demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February month rose by Rs 5.15, or 0.71% to Rs 726.70 per kg, with an open interest of 1,20,610 lots.

Likewise, the oil for delivery in January traded higher by Rs 4.35, or 0.60%, to Rs 731.80 per 10 kg, with a business volume of 74,830 lots.

Market analysts said pick-up in demand in the spot market supported by marriage season mainly led to the rise in refined soya oil futures prices.