Refined soya oil futures up on strong demand

Rising for the second day, refined soya oil prices advanced by 0.46 per cent to Rs 671.45 per 10 kg in futures trading today as speculators engaged in building up positions, taking positive cues from spot market on strong demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October month rose by Rs 3.10, or 0.46 per cent, to Rs 671.45 per 10 kg with an open interest of 30,420 lots.
Likewise, the oil for delivery in September contracts was trading higher by Rs 2.40, or 0.36 per cent, to Rs 661.50 per 10 kg in 50,200 lots.

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