Refined soya oil futures gain 1.14% on spot demand

Continuing its gaining streak for the second day, refined soya oil prices rose 1.14 per cent to Rs 609.85 per 10 kg in futures trading today as speculators enlarged positions amid positive cues from spot market on strong demand.
Besides, restricted arrivals from producing belts fuelled the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October gained Rs 6.90, or 1.14 per cent, to Rs 609.85 per 10 kg with an open interest of 79,330 lots.
Likewise, the oil for delivery in November added Rs 5.85, or 1.00 per cent, to Rs 592.50 per 10 kg in 77,140 lots.

Analysts said besides strong demand in the spot market ahead of festive season, tight supplies from producing belts kept refined soya oil prices higher at futures trade.