Refined soya oil futures up 0.16% on strong demand

Continuing its rising streak for the third straight day, refined soya oil prices rose further by 0.16 per cent to Rs 685.95 per 10 kg in futures trade today as participants engaged in enlarging their positions, tracking a firm trend at spot market on surging demand.
Besides, tight stocks position on fall in arrivals from producing regions too fulled the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December month edged up by Rs 1.10, or 0.16 per cent to Rs 685.95 per 10 kg with an open interest of 29,830 lots.
On similar lines, the oil for delivery in November traded higher by 40 paise, or 0.06 per cent to Rs 677 per 10 kg in 36,480 lots.

Analysts said expanding of positions by traders on the back of rising demand in the physical market against tight stocks position on fall in supplies from producing belts mainly kept refined soya oil prices higher at futures trade.