Refined soya down 0.8% on profit-booking
Adequate stocks position in the physical market on increased arrivals from producing regions put pressure on refined soya oil prices
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Refined soya oil prices moved down by 0.86% to Rs 657.25 per 10 kg in futures trading today as speculators booked profits at prevailing higher levels amid subdued demand in the spot market.
Adequate stocks position in the physical market on increased arrivals from producing regions also put pressure on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October declined by Rs 5.70, or 0.86% to Rs 657.25 per kg with an open interest of 68,310 lots.
Similarly, the oil for delivery in September traded lower by Rs 2, or 0.29% to Rs 678 per 10 kg in 37,540 lots.
Analysts said besides profit-bookings by speculators at prevailing higher levels, sluggish demand in the spot market against adequate stocks position pulled down refined soya oil prices at futures trade.
Adequate stocks position in the physical market on increased arrivals from producing regions also put pressure on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October declined by Rs 5.70, or 0.86% to Rs 657.25 per kg with an open interest of 68,310 lots.
Similarly, the oil for delivery in September traded lower by Rs 2, or 0.29% to Rs 678 per 10 kg in 37,540 lots.
Analysts said besides profit-bookings by speculators at prevailing higher levels, sluggish demand in the spot market against adequate stocks position pulled down refined soya oil prices at futures trade.
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First Published: Sep 18 2013 | 1:00 PM IST