Refined oil prices rose Rs 8.80, or 1.79 per cent, to Rs 500.40 per 10 kg in futures trade today, as traders indulged in enlarging their positions to meet the ongoing festive season demand.
Restricted arrivals from overseas markets also supported the rise in prices.
At the Multi Commodity Exchange platform, refined soya oil for November-month contract rose by Rs 8.80, or 1.79 per cent, to Rs 500.40 per 10 kg, with a business volume of 14 lots.
Similarly, the oil for delivery in October contract gained by Rs 7.60, or 1.56 per cent, to Rs 495.50 per 10 kg, with a business turnover of 36 lots.
Analysts said increased buying by speculators to meet the festive season demand in domestic markets, mainly led to a rise in refined soya oil prices at futures trade.