Refined soya oil futures maintain uptrend on strong demand

Continuing its gaining streak for the fourth straight day, refined soya oil prices rose further by 0.31 per cent to Rs 657 per 10 kgs in futures trading today as participants engaged in widening their bets, taking positive cues from spot market on strong domestic demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March moved up by Rs 2, or 0.31 per cent, to Rs 657 per 10 kg with an open interest of 17,860 lots.
In a similar fashion, the oil for delivery in April gained Rs 1.75, or 0.28 per cent, to Rs 638 per 10 kg in 57,940 lots.

Analysts said, widening of bets by participants on the back of rising demand at the spot market against tight stocks position on fall in arrivals from producing belts, mainly kept refined soya oil prices higher at futures trade.