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Muted demand drags down refined soya oil futures by 0.44%

Press Trust of India  |  New Delhi 

Refined soya oil prices drifted lower by 0.44 per cent to Rs 649.30 per 10 kg in futures trade today as traders reduced their exposures, tracking a weak trend at the spot market on low demand.

At National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by Rs 2.90 or 0.44 per cent to Rs 649.30 per 10 kg with an open interest of 15,200 lots.

Likewise, the oil for delivery in November contracts shed Rs 2.55 or 0.39 per cent to Rs 652.70 per 10 kg in 56,260 lots.

Market analysts said trimming of positions by participants due to subdued demand in the spot market against ample stocks position on higher supplies from producing regions, mainly led to the decline 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: Thu, October 13 2016. 17:23 IST