Refined soya oil decline on profit taking

Refined soya oil fell by Rs 3.85 to Rs 627.20 per 10 kg in futures trade today, as traders indulged in profit booking at higher levels influenced by fall in demand in the spot market.

At the Multi Commodity Exchange counter, refined soya oil for January-month delivery contract fell by Rs 3.85, or 0.61 per cent, to Rs 627.20 per 10 kg, with a business turnover of 23 lots.

While February-month delivery eased by Rs 3.80, or 0.59 per cent, to Rs 637.05 per 10 kg, with an open interest of 30 lots.

The fall in refined soya oil attributed, as speculators indulged in profit taking at higher levels due to fall in demand in the spot market, traders said.