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Refined soya oil rises on spot demand

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Press Trust of India New Delhi

Refined oil futures prices rose by Rs 10.90 to Rs 618.70 per 10 kg today, as traders enlarged their positions in tandem with a firm trend in spot markets.

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

At the Multi Commodity Exchange counter, refined soya oil for delivery in January month rose by Rs 10.90 or 1.79 per cent to Rs 618.70 per 10 kg, with a trading volume of 127 lots.

Similarly, the oil for delivery in February surged by Rs 9.15 or 1.46 per cent to Rs 632.70 per 10 kg in 12 lots.

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

They attributed soya refined oil prices on continued buying support in the domestic as well as international markets.

 

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First Published: Dec 27 2010 | 2:04 PM IST

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