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Low demand drags refined soya oil futures by 0.31%

Press Trust of India  |  New Delhi 

Refined soya prices declined by 0.31 per cent to Rs 718.60 per 10 kg in futures trade today as participants reduced their position amid sluggish demand in the spot market against adequate stocks.

At the National Commodity and Derivatives Exchange, refined soya for delivery in far-month January 2017 moved down by Rs 2.25, or 0.31 per cent to Rs 718.60 per 10 kg with an open interest of 40,040 lots.

Similarly, the for delivery in December contracts shed Rs 1.50, or 0.21 per cent to Rs 715.25 per 10 kg in 45,900 lots.

Analysts said trimming of positions by traders owing to slackened demand in the spot market against sufficient stocks position mainly led to the fall in refined soya oil prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 11:07 IST