Rising demand lifts refined soya oil futures

Refined soya oil prices on Wednesday rose by Rs 3.3 to Rs 1,056 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for December delivery moved up by Rs 3.3, or 0.31 per cent, to Rs 1,056 per 10 kg in 52,510 lots.

Refined soya oil contracts for January delivery rose by Rs 2.1, or 0.2 per cent, to Rs 1,053 per 10 kg in 12,725 lots.

Analysts said widening of positions by traders mainly helped refined soya oil prices to trade higher in futures market.