Refined soya down 0.5% on adequate stocks

Refined soya oil prices dropped by 0.55% to Rs 616.70 per 10 kg in futures trading today amid ample stocks on higher supplies from producing regions at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December drifted by Rs 3.40, or 0.55%, to Rs 616.70 per 10 kg with an open interest of 1,40,475 lots.

On similar lines, the oil for delivery in November declined by Rs 2.55, or 0.41%, to Rs 621.70 per 10 kg in 31,930 lots.

Market analysts said, offloading of positions by traders, driven by adequate stocks on higher supplies from producing regions in the physical market against weak demand kept pressure on refined soya oil prices at futures trade.