Refined soya oil futures slip 0.39 pc on low demand

Refined soya oil prices fell 0.39 per cent to Rs 629.70 per 10 kg in futures trade today as traders cut down their positions, taking negative cues from the spot market on easing demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month August drifted lower by Rs 2.45, or 0.39 per cent to Rs 629.70 per 10 kg with an open interest of 32,830 lots.
Likewise, the oil for delivery in July contracts traded lower by Rs 1.35, or 0.21 per cent to Rs 639.30 per 10 kg in 46,080 lots.
Analysts said offloading of positions by participants amid muted demand at the spot market against adequate stocks position on increased supplies from producing regions weighed on the refined soya oil prices.