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Refined soya oil prices rose by Rs 2.55 to Rs 647.95 per 10 kg in futures trade today as speculators created fresh positions after pick up in demand in the spot market. At the National
Commodity and Derivatives Exchange, refined soya oil for September rose by Rs 2.55, or 0.40 per cent to Rs 647.95 per 10 kg in turnover of 63480 lots. Similarly, the oil for August contract traded higher by Rs 1.70, or 0.26 per cent to Rs 666.10 per 10 kg in 41630 lots.
Analysts said speculators created fresh positions, driven by pick up in demand in the spot market mainly led to rise in refined soya oil prices at futures trade. Cardamom prices spurted by Rs 31.50, or 4 per cent to hit upper circuit limit at Rs 819.10 per kg in futures trade today as speculators created huge positions, triggered by a firm trend at spot market on strong demand.
Some exports enquiries and restricted arrivals from producing regions due to heavy rains also supported the upswing. At the Multi Commodity Exchange, cardamom for delivery in August spurted by Rs 31.50, or 4 per cent to Rs 819.10 per kg in business turnover of 6 lots. Similarly, the spice for delivery in September contract shot up by Rs 18.50, or 1.08 per cent to Rs 794 per kg in 399 lots.
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