Refined soya oil prices inched up by 0.19 per cent to Rs 720.15 per 10 kg in futures market Thursday as speculators raised their bets amid uptick in demand in the spot market.
Limited supply from producing regions too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January edged up by Rs 1.4, or 0.19 per cent, to Rs 720.15 per 10 kg with an open interest of 37,890 lots.
Similarly, the oil for delivery in February was trading higher by 0.55 paise, or 0.08 per cent, to Rs 710 per 10 kg in 21,820 lots.
Analysts said widening of positions by traders following upsurge in demand in the physical markets against tight stocks position mainly pushed up refined soya oil prices at futures trade.
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