Rising for the second straight day, refined soya oil prices advanced by 0.48 per cent to Rs 727.50 per 10 kg in futures trade today as traders engaged in building up positions, driven by surging demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for January went up by Rs 3.50, or 0.48 per cent to Rs 727.50 per 10 kg with an open interest of 57,030 lots.
Similarly, the oil for delivery in December gained Rs 2.90, or 0.40 per cent to Rs 731.20 per 10 kg in 7,460 lots.
Analysts said, widening of position by participants on the back of upsurge in demand in the spot market against tight stocks position on restricted supplies from producing belts, mainly kept refined soya oil prices higher at futures trade.
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