Refined soya up more than 1% in futures trade

Speculators create fresh positions, tracking firm spot market trend on pick up in festive season demand

Refined soya oil prices moved up by Rs 9.05 to Rs 685.35 per 10 kg in futures trade today as speculators created fresh positions, tracking a firm spot market trend on pick up in demand supported by festive season.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December moved up by Rs 9.05, or 1.34 per cent, to Rs 685.35 per 10 kg, with an open interest of 1,33,760 lots.

The November contract traded higher by Rs 7.15, or 1.04 per cent, to Rs 696.55 per 10 kg, in 54,300 lots.

Marketmen said fresh position built by speculators, tracking a firm trend at spot market following pick up in demand supported by festive season mainly influenced refined soya oil prices at futures trade.