Refined soya rises as demand picks up

Spot market cues, festive season pulled prices higher

Refined soya oil prices rose by Rs 11.35 to Rs 710.15 per 10 kg in futures trading today as traders enlarged positions, taking firm cues from spot market on strong demand due to marriage season.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January rose by Rs 11.35, or 1.62%, to Rs 710.15 per 10 kg, with a business turnover of 70,970 lots.

Similarly, the oil for delivery in December moved up by Rs 7.70, or 1.09%, to Rs 713.05 per 10 kg, with a business turnover of 136,450 lots.

Marketmen said traders enlarged positions, driven by rise in demand in the spot market due to the ongoing marriage season.