Refined soya oil futures declines on profit-booking

Refined soya oil fell by Rs 7.65 to Rs 622.50 per 10 kg in futures trade today as speculators indulged in profit-booking at higher levels influenced by a fall in demand at spot markets.

At the Multi Commodity Exchange, refined soya oil for June delivery contract fell by Rs 7.65, or 1.21%, to Rs 622.50 per 10 kg, with a trading volume of two lots.

Similarly, the refined soya oil for delivery in May contract declined by Rs 6.90, or 1.11% to Rs 615.40 per 10 kg, with a business volume of 12 lots. 

Traders said the fall in refined soya oil was mostly due to profit-taking by speculators at higher levels on fall in demand in the spot market.