Refined soya oil declines on subdued demand

Refined soya oil prices declined by Rs 3.90 to Rs 648.65 per 10 kg in futures trading today on sluggish demand in the spot market. 

At the Multi Commodity Exchange, refined soya oil for delivery in February declined by Rs 3.90, or 0.60 per cent, to Rs 648.65 per 10 kg, with a business volume of a single lot.

Likewise, the oil for delivery in March contract shed Rs 1.50, or 0.22 per cent, to Rs 666.55 per 10 kg, with a business turnover of one lot. 

Market analysts said sluggish demand against adequate stocks at the spot market led to the decline in refined soya oil prices at futures trade.