Refined soya oil futures slide 0.47% on low demand

Refined soya oil prices were down by 0.47 per cent to Rs 660.25 per 10 kg in futures trading today as participants reduced their their positions amid subdued demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions put pressure on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by Rs 3.15 or 0.47 per cent to Rs 660.25 per 10 kg with an open interest of 50,950 lots.
On similar lines, the oil for delivery in September contracts moved down by Rs 2.15 or 0.33 per cent to Rs 652.75 per 10 kg in 36,490 lots.

Analysts said offloading of positions by traders due to easing demand in the spot market against adequate stocks position mainly influenced refined soya oil prices at futures trade.