Muted demand drag down refined soya oil futures by 0.18%

Refined soya oil eased by 0.18 per cent to Rs 664.60 per 10 kg in futures trade today as participants trimmed positions, driven by subdued demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions weighed on prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October month declined by Rs 1.20, or 0.18 per cent to Rs 664.60 per 10 kg with an open interest of 65,230 lots.
Likewise, the oil for delivery in November contracts shed 55 paise, or 0.08 per cent to Rs 666.05 per 10 kg in 36,440 lots.

Analysts said offloading of positions by traders due to tepid demand in the spot market against ample stocks position, mainly influenced refined soya oil prices at futures trade.