Refined soya oil futures gain on spot demand

Refined soya oil prices were up by 0.35 per cent to Rs 739 per 10 kg in futures trade Monday as speculators raised their bets. On the National Commodity and Derivatives Exchange, refined soya oil for delivery in August contracts moved up by Rs 2.55, or 0.35 per cent, to Rs 739 per 10 kg with an open interest of 21,170 lots.

Similarly, the oil for delivery in September contracts edged up by Rs 5.75, or 0.78 per cent, to Rs 740.3 per 10 kg in 29,420 lots. Analysts said, widening of positions by traders mainly helped refined soya oil prices to trade higher at futures trade.