Refined soya oil futures slide 0.16% on muted demand

Refined soya oil prices eased by 0.16 per cent to Rs 637.60 per 10 kg in futures trading today as traders trimmed their positions, driven by subdued demand in the spot market.
Besides, adequate stocks position on higher supplies from producing belts weighed on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June month fell by Re 1, or 0.16 per cent to Rs 637.60 per 10 kg with an open interest of 1,16,120 lots.
Likewise, the oil for delivery in July contracts traded lower by 40 paise, or 0.06 per cent to Rs 644.75 per 10 kg in 82,910 lots.

Analysts said offloading of positions by participants on the back of sluggish demand in the spot market against sufficient stocks on higher supplies from producing regions, mainly led to the fall in refined soya oil prices at futures trade.