Refined soya oil rises on physical demand

Refined oil futures futures prices rose by Rs 4.50 to Rs 649 per 10 kg in futures trade today as speculators enlarged their positions in tandem with firming trend in the spot market.

Fall in supplies from overseas markets also supported the rise in futures prices.

At the Multi Commodity Exchange counter, refined soya oil for delivery in February rose by Rs 4.50 or 0.69 per cent, to Rs 649 per 10 kg.

Similarly, the oil for delivery in January gained by Rs 4.15 or 0.65 per cent, to Rs 636.75 per 10 kg. 

Market analysts said increased buying by speculators on rising demand in the spot market, led to the rise in refined soya oil prices in futures trade.

Soya refined futures prices on continued buying support in the domestic as well as international markets.