Refined soya oil falls by 0.8% on sluggish demand

Refined soya oil prices fell by 0.75% to Rs 645.80 per 10 kg in futures trade today as speculators reduced their holdings due to sluggish demand in the spot market against adequate stocks position.

 

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September month fell by Rs 4.85, or 0.75% to Rs 645.80 per 10 kg with an open interest of 52,350 lots.

 

Similarly, the oil for delivery in August traded lower by Rs 4.35, or 0.65% to Rs 661.10 per 10 kg in 1,04,220 lots.

 

Analysts said speculators reduced their positions due to subdued demand in the spot market against adequate stocks position mainly influenced refined soya oil prices at futures trade.