Refined soya oil futures soften 0.37% on low demand

Refined soya oil prices moved down by 0.37 per cent to Rs 640.70 per 10 kg in futures trading today as the participants reduced their exposure, tracking a weak trend at spot market on subdued demand.
Besides, adequate stocks positions on higher supplies from producing regions put pressure on refined soya oil.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month September fell by Rs 2.40, or 0.37 per cent to Rs 640.70 per 10 kg with an open interest of 84,530 lots.
On similar lines, the oil for delivery in August month contracts traded lower by Rs 2.10, or 0.33 per cent to Rs 636.30 per 10 kg in 40,890 lots.

Analysts said trimming of positions by traders driven by sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts mainly led to decline in refined soya oil prices at futures trade.