Refined soya oil up on spot demand

Refined oil prices gained by Rs 5.85 to Rs 576.60 per 10 kg in futures market today, as speculators enlarged their positions, supported by a rise in spot market demand.

At the Multi Commodity Exchange, refined soya oil January month rose by Rs 5.85 or 1.02 per cent to Rs 576.60 per 10 kg, with a business turnover of 2 lots.

Similarly, the oil for delivery in December month traded higher by Rs 3.65 or 0.64 per cent to Rs 571.60 per 10 kg in single lot.

Analysts said firming trend at the domestic markets following marriage season influenced the refined soya oil prices at futures trade.