Refined soya oil maintains upward trend on rising demand

Extending its rising streak for the fifth day, refined soya oil prices edged up by 0.06 per cent to Rs 717.90 per 10 kg in futures trading today as participants engaged in enlarging their positions, taking positive cues from spot market on strong demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January edged up by 45 paise, or 0.06 per cent, to Rs 717.90 per 10 kg, with an open interest of 38,380 lots.
On similar lines, the oil for delivery in February was trading higher by 20 paise, or 0.03 per cent, to Rs 709.90 per 10 kg in 28,550 lots.

Analysts said raising of bets by traders, tracking a firm trend at spot market on rising demand against restricted supplies from producing regions, mainly kept refined soya oil prices higher at futures trade.