Refined soya oil weakens in futures trade on subdued demand

Refined soya oil prices traded marginally lower by Rs 0.13% to Rs 628.30 per 10 kg in futures trade today following subdued demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, refined soya oil for delivery in June traded lower by 80 paise, or 0.13% to Rs 628.30 per 10 kg, with an open interest of a single lot.

Similarly, the oil for delivery in May shed 40 paise, or 0.06% to Rs 623.50 per 10 kg, with a business volume of a single lot.

Traders said subdued demand against adequate stocks position in the spot market led to the decline in refined soya oil futures prices.