Refined soya oil futures extend gains on spot demand

Refined soya oil prices rose further by 0.30 per cent to Rs 657.85 per 10 kg in futures market today after a firm trend at spot market on strong demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September month edged up by Rs 1.95, or 0.30 per cent to Rs 657.85 per 10 kg with an open interest of 33,370 lots.

Similarly, the oil for delivery in October was trading higher by Rs 1.30, or 0.20 per cent to Rs 663.25 per 10 kg in 39,970 lots.

Analysts said widening of positions traders following pick up in demand in the spot market against restricted supplies from producing belts mainly kept refined soya oil prices higher at futures trade.