Refined soya oil trades higher in futures trade

Refined soya oil traded slightly higher by Rs 2.35 to Rs 651.40 per 10 kg in futures trade today, as traders enlarged their positions on the back of a firm trend in spot markets.

At the Multi Commodity Exchange counter, refined soya oil for March traded higher by Rs 2.35, or 0.36 per cent to Rs 651.40 per 10 kg, with a business volume of single lot.

Similarly, the oil for delivery in February gained Rs 1.50, or 0.23 per cent to Rs 646 per 10 kg, with a business volume of one lot.

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