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Refined soya oil prices moved up by 0.48% to Rs 589.55 per 10 kg in futures trade today as speculators created positions, driven by pick up in demand in the spot market.
Tight supplies in the physical market on restricted arrivals from producing belts also supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December rose by Rs 2.80, or 0.48% to Rs 589.55 per 10 kg with an open interest of 72,995 lots.
In a similar fashion, the oil for delivery in November traded higher by Rs 2.30, or 0.39% to Rs 587.75 per 10 kg in 86,595 lots.
Analysts said apart from firming trend at spot market on pick up in demand, limited arrivals from producing regions mainly led to the rise in refined soya oil prices in futures trade.
