Refined soya oil futures extend gains on rising spot demand

Extending its gains for the second straight day, refined soya oil prices advanced by 0.27 per cent to Rs 575.60 per 10 kg in futures trading today as speculators enlarged positions, tracking a firm trend at spot market on rising demand.
The exchange opened for the evening session as it remained closed in the morning for Baba Saheb Ambedkar Jayanti.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June month moved up by Rs 1.55 or 0.27 per cent to Rs 575.60 per 10 kg with an open interest of 1,20,950 lots.
Similarly, the oil for delivery in April month contract traded higher by Rs 1.50 or 0.25 per cent to Rs 601.55 per 10 kg in 17,155 lots.

Market analysts said besides rising demand in spot market, restricted arrivals from producing belts mainly influenced refined soya oil prices at futures trade.