Refined soya oil futures remain weak, shed 0.34%

Refined soya oil prices fell further by 0.34 per cent to Rs 737.45 per 10 kg in futures trade today as speculators cut bets, driven by easing demand in the spot market.
Besides, adequate stocks position on increased supplies from producing belts too weighed on prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February declined by Rs 2.55, or 0.34 per cent, to Rs 737.45 per 10 kg with an open interest of 22,770 lots.
Similarly, the oil for delivery in March contracts declined by Rs 2.10, or 0.28 per cent, to Rs 744 per 10 kg in 28,710 lots.

Analysts said offloading of positions by traders owing to slackened demand in the physical market against adequate stocks position on increased supplies from producing regions kept refined soya oil prices lower in futures trade.