Refined soya oil futures up on spot demand

Written by Agencies | New Delhi | Updated: Mar 30 2011, 19:51pm hrs
Buoyed by a firming trend at the spot market on good demand, refined oil prices rose by Rs 5 to Rs 608 per 10 kg in future trade on Wednesday.

Tight stocks following fall in supplies from overseas markets also supported the uptrend in prices.

At the Multi Commodity Exchange counter, refined soya oil for delivery in May rose by Rs 5, or 0.83 per cent, to Rs 608 per 10 kg, with a trading volume of one lot.

Similarly, the oil for delivery in April surged Rs 3.75, or 0.63 per cent, to Rs 597.40 per 10 kg, with an open interest of two lots.

Analysts said the gains in refined soya oil at futures market was mainly supported by a firming trend at the spot markets on pick-up in demand.