Refined soya oil weakens marginally as demand declines

Sheds 0.19% as inventories pile up

Refined soya oil traded marginally lower by 0.19 per cent to Rs 678.40 per 10 kg in futures market today as demand dropped in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July weakened by Rs 1.30, or 0.19 per cent, to Rs 678.40 per 10 kg with an open interest of 1,36,550 lots.

Likewise, the oil for delivery in June shed 75 paise, or 0.11 per cent, to Rs 692.20 per 10 kg in 1,33,770 lots.

Analysts said offloading of positions by speculators after demand in the spot market declined against adequate stocks position mainly helped refined soya oil prices to trade lower at futures trade.