Refined soya oil futures rise on physical demand

Refined oil futures prices rose by Rs 7.25 to Rs 589.50 per 10 kg today, as traders enlarged their positions in tandem with a firm trend in spot markets.

Restricted arrivals from overseas markets also supported the rise in prices. 

At the Multi Commodity Exchange counter, refined soya oil for delivery in January rose by Rs 7.25, or 1.25 per cent to Rs 589.50 per 10 kg.

Similarly, the oil for delivery in December gained by Rs 7.05, or 1.24 per cent to Rs 576.05 per 10 kg. 

Analysts said increased buying by speculators on rising demand in the spot market for the ongoing marriage season, led to the  rise in refined soya oil futures prices.