Refined soya oil futures down on sluggish demand

In range bound trade, refined soya oil prices declined by Rs 1.50 to Rs 654.30 per 10 kg in futures trade today owing to slackness in spot market demand against adequate stocks.

At the Multi Commodity Exchange, refined soya oil for September delivery declined by Rs 1.50, or 0.23%, to Rs 654.30 per 10 kg, with an open interest of a single lot. 

Traders said sluggish demand in the spot market against adequate stocks position led to the fall in refined soya oil futures prices.