Refined soya futures falls 1.21% on subdued demand

Refined soya oil prices fell by Rs 8 to Rs 655.35 per 10 kg in futures trading today, as speculators reduced their positions on fall in demand in the spot market at existing higher levels.

At the Multi Commodity Exchange platform, refined soya oil for March-month fell by Rs 8, or 1.21 per cent to Rs 655.35 per 10 kg, with a business volume of single lot.

Similarly, the oil for delivery in February declined by Rs 5.70, or 0.87 per cent to Rs 646 per 10 kg, with a business turnover of two lots, while delivery for January shed Rs 5.05, or 0.79 per cent to Rs 633 per 10 kg, with a business volume of four lots.

Analysts said speculators reduced their positions on the back of weakening trend at spot market as sluggish demand pulled down the refined soya oil prices at futures trade here.