Refined soya oil futures remain up on rising demand

Rising for the second straight day, refined soya oil prices advanced by 0.32 per cent to Rs 649.50 per 10 kg in futures market today as participants engaged in enlarging their positions, tracking a firm trend at spot market on surging demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April went up by Rs 2.10, or 0.32 per cent, to Rs 649.50 per 10 kg with an open interest of 44,080 lots.

In similar fashion, the oil for delivery in May traded higher by Rs 1.80, or 0.28 per cent, to Rs 638.20 per 10 kg in 45,490 lots.

Analysts said, widening of positions by traders on the back of rising demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly kept refined soya oil prices higher at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)