Refined soya oil futures down on sluggish demand

Refined soya oil prices declined by Rs 1.75 to Rs 631 per 10 kg in futures trade today due to sluggish spot market demand.   

At the Multi Commodity Exchange, refined soya oil for delivery in June declined by Rs 1.75, or 0.28% to Rs 631 per 10 kg, with an open interest a single lot. 

Similarly, the oil for delivery in May shed Rs 1.30, or 0.21% to Rs 625 per 10 kg, with a business turnover of just one lot.

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