Refined soya oil down 0.54% on low demand

Traders offload holdings as inventories pile up

Refined soya oil prices declined by 0.54 per cent to Rs 669.80 per 10 kg in futures trading today as speculators reduced holdings due to subdued demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July declined by Rs 3.65, or 0.54 per cent, to Rs 669.80 per 10 kg with an open interest of 1,41,400 lots.

The June contract traded lower by Rs 2.50, or 0.36 per cent, to Rs 684.20 per 10 kg in 1,30,350 lots.

Analysts said offloading of positions by speculators owing to slackened demand in the spot market against adequate stocks position mainly led to decline in refined soya oil prices at futures trade.