Muted demand drags down refined soya oil futures by 0.95 pc

Refined soya oil fell by 0.95 per cent to Rs 637.90 per 10 kg in futures trade today as speculators cut down their bets, tracking a weak trend at spot market on sluggish demand.
Besides, adequate stocks position on higher supplies from producing regions put pressure on refined soya oil.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July eased by Rs 6.10, or 0.95 per cent to Rs 637.90 per 10 kg with an open interest of 67,510 lots.
On similar lines, the oil for delivery in August traded lower by Rs 5.40, or 0.83 per cent to Rs 642.05 per 10 kg in 1,01,810 lots.

Marketmen said trimming of positions by participants on the back of subdued demand in the spot market against adequate stocks position on higher supplies from producing belts, mainly led to the fall in refined soya oil prices at futures trade.