Refined soya oil futures extend gain, up 0.20% on firm demand

Continuing its rising streak for the third day, refined soya oil prices advanced by 0.20 per cent to Rs 635.25 per 10 kgs in futures trading today as participants enlarged positions, driven by strong demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April edged up by Rs 1.25, or 0.20 per cent to Rs 635.25 per 10 kgs with an open interest of 55,650 lots.
Likewise, the oil for delivery in March contracts traded higher by 15 paise, or 0.02 per cent to Rs 653 per 10 kgs in 18,660 lots.

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