Refined soya down 0.3% on subdued demand

Refined soya oil prices declined by 0.37% to Rs 706.75 per 10 kg in futures trading today as speculators reduced their holdings due to sluggish demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya for delivery in November fell by Rs 2.60, or 0.37%, to Rs 706.75 per 10 kg with an open interest of 1,04,350 lots.

Similarly, oil for delivery in December traded lower by Rs 2.55, or 0.37%, to Rs 695.75 per 10 kg in 85,980 lots.

Analysts said speculators reduced their positions on sluggish demand in the spot market against adequate stocks position, which mainly kept pressure on refined soya oil prices at futures trade.