Refined soya oil advances 0.8% on strong demand

Speculators enlarge positions on higher offtake in spot market

Refined soya oil prices advanced by 0.80 per cent to Rs 654.05 per 10 kg in futures trading today as speculators enlarged positions on strong demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July added Rs 5.20, or 0.80 per cent, to Rs 654.05 per 10 kg with an open interest of 1,82,530 lots.

The June contract gained Rs 5.10, or 0.77 per cent, to Rs 668.40 per 10 kg in 68,310 lots.

Analysts said the rise in refined soya oil prices at futures trade was supported by strong demand in the spot market.