 "Refined soya oil futures surge 2.7% on good spot demand")
Refined soya oil prices spurted by 2.73 per cent to Rs 627.60 per 10 kg in futures trade today as speculators enlarged positions amidst good demand in the spot market.
Besides, tight stocks position in the physical market on restricted arrivals from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January next year shot up by Rs 16.70, or 2.73 per cent, to Rs 627.60 per 10 kg with an open interest of 66,060 lots.
Analysts said the rise in refined soya oil prices at futures trade was was mostly due to rising demand in the spot markets amid restricted arrivals from producing belts.
Besides, tight stocks position in the physical market on restricted arrivals from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January next year shot up by Rs 16.70, or 2.73 per cent, to Rs 627.60 per 10 kg with an open interest of 66,060 lots.
More From This Section
Likewise, the oil for delivery in February traded higher by Rs 15.65, or 2.56 per cent, to Rs 625.90 per 10 kg in 63,125 lots.
Analysts said the rise in refined soya oil prices at futures trade was was mostly due to rising demand in the spot markets amid restricted arrivals from producing belts.