Rising demand lifts refined soya oil futures

Refined soya oil prices on Monday rose by Rs 21.5, to Rs 1,220.9 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for January delivery moved up by Rs 21.5, or 1.83 per cent, to Rs 1,220.9 per 10 kg in 45,825 lots.

Refined soya oil contracts for February delivery rose by Rs 27.6, or 2.33 per cent, to Rs 1,213 per 10 kg in 28,110 lots.

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