Rising demand lifts refined soya oil futures

Refined soya oil prices on Wednesday rose by Rs 4.5 to Rs 1,178 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 4.5, or 0.38 per cent, to Rs 1,178 per 10 kg in 19,820 lots.

Refined soya oil contracts for February delivery gained Rs 5.20, or 0.45 per cent, to Rs 1,168.9 per 10 kg in 36,240 lots.

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