Refined soya oil futures maintain upward trend on good demand

Extending gains for the third day, refined soya oil prices rose further by 0.17 per cent to Rs 692.25 per 10 kgs in futures market today as traders engaged in enlarging positions amid a firm trend in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March edged higher by Rs 1.15, or 0.17 per cent to Rs 692.25 per 10 kg with an open interest of 42,050 lots.

On similar lines, the oil for delivery in February contracts was trading higher by 85 paise, or 0.12 per cent to Rs 702.35 per 10 kg in 29,110 lots.
 

Marketmen said that widening of positions by participants due to uptick in demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly kept refined soya oil prices higher at futures trade.