Refined oil prices rose by Rs 5.35, or 1.09 per cent, to Rs 492.60 per 10 kg in futures trade today, as traders enlarged 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 counter, refined soya oil for October-month contract rose by Rs 5.35, or 1.09 per cent, to Rs 492.60 per 10 kg, with a business volume of 20 lots.
Similarly, the oil for delivery in September contract gained Rs 4.80, or 0.99 per cent, to Rs 487.50 per 10 kg, with a business turnover in 393 lots, while November delivery moved up by Rs three, or 0.61 per cent, to Rs 491.20 per 10 kg, with an open interest of four lots.
Analysts said increased buying by speculators to meet the festive season demand in the domestic market, mainly led to a rise in refined soya oil prices at futures trade.
