Refined soya oil futures up on spot demand

Refined soya oil prices moved up by Rs 3 to Rs 661.95 per 10 kg in futures trade today as speculators enlarged positions on pick up in demand in the spot market.

At the Multi Commodity Exchange counter, refined soya oil prices for February-month delivery contract moved up by Rs 3, or 0.46 per cent, to Rs 661.95 per 10 kg, with an open interest of just one lot.

In a similar fashion, the oil for delivery in March traded higher by Rs 1.90, or 0.29 per cent, to Rs 665 per 10 kg, with a business turnover of just one lot.

Market analysts said increased buying by speculators on pick up in demand in the spot market led to a rise in refined soya oil futures prices.