Indore, Feb. 6: 

Stronger soya oil futures perked up soya oil prices on the physical market on Monday.

Strong projections by the Chicago Board of Trade and higher demand drove up soya refined to Rs 665-670 for 10 kg (Rs 657-660). Soya solvent was up to Rs 625-630 for 10 kg (Rs 615-620). Ruchi Soya Industries Ltd sold soya solvent on the spot market in Guna at Rs 622 for 10 kg, while Sonic Biochem Extractions Ltd sold it on the delivery market to Laxmi Solvex at Rs 632.

Soya oil futures rose on the strong projections and strengthed dollar against the rupee. On the National Board of Trade, soya refined's February contract closed Rs 6 higher at Rs 696.60 for 10 kg. Similarly, on the National Commodity and Derivatives Exchange (NCDEX)soya oil's February and March contracts closed at Rs 696.50, up Rs 6.50, and at Rs 687.95, up Rs 8.70, for 10 kg. Traders do not see soya oil rising for two months as mustardseeds arrivals are likely to pick up in local mandis and as demand for the seeds and their oil is high, said soya-oil trader Mr Suresh Agrawal.

Even as arrival of soyabean in Madhya Pradesh rose to 1.25 lakh bags (80,000 bags), soyabean prices gained on improved buying support. In State mandis, soyabean were up Rs 20 at Rs 2,350-2,420, while plant deliveries quoted at Rs 2,465-2,480. In Indore mandis, 4,000 bags of soyabean arrived; 4,000 bags in Ujjain, 4,500 bags in Dewas and 2,000 bags in Mandsaur. A stronger dollar pushed up soyabean's February and March contracts on the NCDEX at Rs 2,498 a quintal (up Rs 30) and at Rs 2,540 (up Rs 32.50). Soya de-oiled cake in the port was unchanged at Rs 18,400 a quintal despite subdued demand in the export market.

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