Refined soya oil up 0.8% on rising demand

Refined soya oil prices rose by 0.83% to Rs 603 per 10 kg in futures trade today as speculators enlarged their bets on the back of strong demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October was up by Rs 4.95, or 0.83%, to Rs 603 per 10 kg with an open interest of 39,360 lots.

Likewise, the oil for delivery in November gained Rs 4.10, or 0.69%, to Rs 596.60 per 10 kg in 48,925 lots.

Market analysts attributed the rise in refined soya oil futures to strong demand in the spot market amid restricted supplies from producing regions.