Muted demand drags down refined soya oil futures by 0.13%

Refined soya oil prices softened by 0.13 per cent to Rs 716.25 per 10 kg in futures trade today as participants reduced their positions, driven by easing demand at the domestic spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February eased by 90 paise, or 0.13 per cent, to Rs 716.25 per 10 kg with an open interest of 39,510 lots.
Similarly, the oil for delivery in March contracts shed 25 paise, or 0.04 per cent, to Rs 711.65 per 10 kg in 18,530 lots.
Analysts said trimming of positions by participants amid low demand in the spot market against sufficient stocks position on increased supplies from growing regions, mainly influenced the refined soya oil prices at futures trade.