 "Refined soya oil down 0.5% on sluggish demand")
Refined soya oil remained weak for the second day and prices shed 0.56% to Rs 682.50 per 10 kg in futures market today as speculators reduced positions following sluggish demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January fell further by Rs 3.85, or 0.56%, to Rs 682.50 per 10 kg with an open interest of 34,140 lots.
Similarly, the oil for delivery in February declined by Rs 3.75, or 0.55%, to Rs 675.60 per 10 kg in 1,24,140 lots.
Analysts said trimming of positions by speculators following sluggish demand in the spot market against adequate stocks position kept pressure on refined soya oil prices at futures trade.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January fell further by Rs 3.85, or 0.56%, to Rs 682.50 per 10 kg with an open interest of 34,140 lots.
Similarly, the oil for delivery in February declined by Rs 3.75, or 0.55%, to Rs 675.60 per 10 kg in 1,24,140 lots.
Analysts said trimming of positions by speculators following sluggish demand in the spot market against adequate stocks position kept pressure on refined soya oil prices at futures trade.
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