Refined soya oil down 0.9% on low demand

Oil for delivery in December traded lower by 0.7%

Refined soya oil prices moved down by 0.96% to Rs 709.40 per 10 kg in futures trading today as speculators reduced positions due to low demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January moved down by Rs 6.85, or 0.96% to Rs 709.40 per 10 kg with an open interest of 1,10,570 lots.

Similarly, the oil for delivery in December traded lower by Rs 5.60, or 0.79% to Rs 706.75 per 10 kg in 55,290 lots.

Analysts said speculators reduced positions on the back of low demand in the spot market against adequate stocks position, which mainly kept pressure on refined soya oil prices at futures trade.