Refined soya falls by 0.5% on sluggish demand

Refined soya oil prices fell 0.47% to Rs 661.40 per 10 kg in futures market today as speculators reduced their holdings amid sluggish demand in the spot market against adequate stocks position.

 

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 3.10, or 0.47% to Rs 661.40 per 10 kg with an open interest of 46,310 lots.

 

Similarly, the oil for delivery in September traded lower by Rs 1.20, or 0.19% to Rs 642.25 per 10 kg in 46,920 lots.

 

Analysts said offloading of positions by speculators amid sluggish demand in the spot market against adequate stocks position mainly kept pressure on refined soya oil at futures trade.