Refined soya oil futures down 0.79% on low demand

Refined soya oil prices fell by 0.79 per cent to Rs 618.15 per 10 kg in futures trade today as participants cut down their bets owing to subdued demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May declined by Rs 4.95, or 0.79 per cent, to Rs 618.15 per 10 kg, with an open interest of 57,020 lots.
Likewise, the oil for delivery in April shed Rs 2.80, or 0.44 per cent, to Rs 631 per 10 kg in 15,180 lots.
Analysts said offloading of positions by traders on the back of sluggish demand in the spot market against adequate stocks position, mainly led to the decline in refined soya oil prices at futures trade.