Refined soya oil futures extend gains on strong demand

Refined soya oil prices rose 0.37 per cent to Rs 753.50 per 10 kg in futures trade today as speculators built up positions on the back of strong demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June advanced by Rs 2.80, or 0.37 per cent, to Rs 753.50 per 10 kg with an open interest of 32,020 lots.

Similarly, the oil for delivery in May contracts was trading higher by Rs 2.20, or 0.29 per cent, at Rs 748.50 per 10 kg in 41,950 lots.

Analysts said widening of positions by traders due to pick up in demand in the spot market against tight stocks position on fall arrivals from producing belts kept refined soya oil prices higher at futures trade.

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