Refined soya oil dips 0.52% on profit booking

Refined soya oil prices dipped by 0.52 per cent to Rs 745.85 per 10 kg in futures market today as speculators booked profits, driven by a fall in demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell by Rs 3.90, or 0.52 per cent to Rs 745.85 per 10 kg with an open interest of 55,510 lots.

Likewise, the oil for delivery in June shed 30 paise, or 0.04 per cent to Rs 745.50 per 10 kg in 17,780 lots.

Analysts said besides profit-booking by participants, decline in demand in the physical market against sufficient stocks position, mainly weighed on refined soya oil prices at futures trade.