Refined soya gains 2.1% on strong demand

Refined soya oil prices rose 2.14% to Rs 694.80 per 10 kg in futures trade today as speculators enlarged their positions, driven by strong demand in the spot market against tight supplies from producing regions.

 

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October rose by Rs 14.55, or 2.14% to Rs 694.80 per 10 kg with an open interest of 87,120 lots.

 

Similarly, the oil for delivery in September moved up by Rs 12.65, or 1.82% to Rs 707.50 per 10 kg in 59,850 lots.

 

Market analysts said strong demand in the spot markets mainly influenced refined soya prices at futures trade here.