Refined soya oil strengthens in futures trade

Refined soya oil prices moved up by Rs 7.40 to Rs 629 per 10 kg in futures trading today after speculators enlarged their positions on the back of rising demand in the spot market.  

At the Multi Commodity Exchange, refined soya oil for delivery in June gained Rs 7.40, or 1.19% to Rs 629 per 10 kg, with a business volume of a single lot.

Similarly, the oil for delivery in May gained Rs 3.20, or 0.52% to Rs 621.90 per 10 kg, with an open interest of just one lot.

Analysts attributed the rise in refined soya oil prices in futures trade to better demand in the spot markets.