Muted demand drags down refined soya oil futures 0.48 pc

Refined soya oil prices fell 0.48 per cent to Rs 731.95 per 10 kg in futures trade today as speculators reduced exposure amid sluggish demand at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February fell by Rs 3.55, or 0.48 per cent, to Rs 731.95 per 10 kg in a business turnover of 34,700 lots.

Likewise, the oil for delivery in January traded lower by Rs 2.95, or 0.40 per cent, to Rs 726.40 per 10 kg in 43,830 lots.

Market analysts said offloading of positions by participants due to easing demand in the physical market against ample stocks position, mainly weighed on refined soya oil prices at the futures trade.