Commodities

Refined soya oil up on spot demand

PTI New Delhi | Updated on May 10, 2011 Published on May 10, 2011

Refined soya oil prices gained Rs 5.95 to Rs 617 per 10 kg in futures trade today as traders enlarged their positions in tandem with a firm trend in spot market due to ongoing marriage season.

Fall in supplies from the overseas markets also supported the rise in prices.

At the Multi Commodity Exchange counter, refined soya oil for delivery in May rose by Rs 5.95 or 0.97 per cent to Rs 617 per 10 kg, with a trade volume of a single lot.

Analysts said increased buying by speculators on rising spot market demand for the ongoing marriage season mainly led to the rise in prices.

Also continued buying in the domestic as well as international markets influenced the prices, they added.

Published on May 10, 2011
This article is closed for comments.
Please Email the Editor