Refined soya oil futures advance for second day

Refined soya oil advanced for the second day as the prices went up another Rs 1.12 per cent to Rs 734.50 per 10 kg in futures trade today.

This was supported by rising domestic demand at the spot market and restricted supplies from producing belts.

At the Multi Commodity Exchange, refined soya oil for delivery in December rose by Rs 8.15, or 1.12 per cent, to Rs 734.50 per 10 kg with an open interest of 47,890 lots.

On similar lines, the oil for delivery in far-month January 2018 gained Rs 7.70, or 1.05 per cent, to Rs 743.60 per 10 kg in 19,170 lots.

Analysts said that besides rising demand from consuming industries in the physical market, tight stocks position on fall in arrivals from growing regions, mainly kept the refined soya oil prices higher.

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