Refined soya oil futures up on fall in supply

NEW DELHI: Refined soya oil futures prices rose by Rs 5.50 to Rs 653.45 per 10 kg today, largely on the back of fall in supplies amid high demand in the spot market.

Firming trend in overseas markets also supported the rise in prices.

At the Multi Commodity Exchange, refined soya oil for delivery in June rose by Rs 5.50, or 0.64 per cent, to Rs 653.45 per 10 kg, with a trading volume of six lots.

Analysts said increased buying by speculators on rising spot market demand for the ongoing marriage season against fall in supplies from overseas market mainly led to the rise in refined soya oil futures prices.