Refined soya oil futures slide 0.58% on low demand

Refined soya oil prices moved down by 0.58 per cent to Rs 638.75 per 10 kg in futures market today as participants cut their bets amid sluggish demand in the spot market against adequate stocks.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May month fell by Rs 3.75, or 0.58 per cent to Rs 638.75 per 10 kg with an open interest of 33,180 lots.
In a similar fashion, the oil for delivery in far-month June contracts declined by Rs 3.75, or 0.57 per cent to Rs 650.50 per 10 kg in 1,03,820 lots.

Analysts said trimming of positions by traders due to fall demand in the spot market against sufficient stocks mainly drag down refined soya oil prices at futures trade.