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Refined soya oil up 1% as demand rises

Higher offtake due to wedding season buoyed prices for the second day in futures market

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Press Trust of India New Delhi
Supported by rising demand in the spot market, refined soya oil remained higher for the second day and prices added 0.95 per cent to Rs 694.50 per 10 kg in futures market today.
    
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March added Rs 6.55, or 0.95 per cent, to Rs 694.50 per 10 kg with an open interest of 99,410 lots.
    
The February contract gained Rs 5.85, or 0.85 per cent, to Rs 697 per 10 kg in 7,940 lots.
    
Market analysts said pick-up in demand in the spot market driven by ongoing wedding season mainly helped refined soya oil prices to rise for the second day at futures trade.
 

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First Published: Feb 14 2014 | 12:08 PM IST

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