Rising Demand Boosts Crude Sunflower Oil Prices

Crude sunflower oil prices increased by Rs 8.70 to Rs 892.30 per 10 kilograms in the futures market. The rise is attributed to a surge in demand from consuming industries, resulting in an increase in market positions. The Multi Commodity Exchange recorded a transaction of 675 lots for August delivery.

Crude sunflower oil prices surged by Rs 8.70 to Rs 892.30 per 10 kilograms in the futures market on Monday. The increase is driven by an uptick in spot demand.

At the Multi Commodity Exchange, contracts for August delivery gained Rs 8.70, or 0.98 percent, reaching Rs 892.30 per 10 kg, with a business turnover of 675 lots.

Market analysts attribute the price hike to participants expanding their positions amid burgeoning demand from consuming industries, thereby elevating crude sunflower oil prices in the futures trade.

(With inputs from agencies.)