Refined soya oil down 0.37% on low demand

Higher supplies from producing belts sustain downtrend

Amid weak domestic demand and adequate stocks position, refined soya oil prices traded lower by 0.37 per cent to Rs 592.05 per 10 kg in futures trade today.

At National Commodity and Derivatives Exchange, refined soya oil for delivery in November month declined Rs 2.20, or 0.37 per cent to Rs 592.05 per 10 kg with an open interest of 44,905 lots.

The October contract shed 95 paise, or 0.16 per cent to Rs 602.15 per 10 kg in 45,095 lots.

Marketmen said apart from fall in demand at spot market, adequate stocks position on higher supplies from producing regions mainly kept pressure on refined soya oil prices at futures trade.