Refined soya oil down 0.7% on low demand
Adequate stocks position in the physical market on higher supplies from producing belts also put pressure on refined soya oil prices
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Refined soya oil prices were down by 0.74% to Rs 594.10 per 10 kg in futures market today as speculators reduced holdings amidst sluggish demand in the spot market.
Adequate stocks position in the physical market on higher supplies from producing belts also put pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in April month fell by Rs 4.45, or 0.74% to Rs 594.10 per 10 kg with an open interest of 1,07,865 lots.
In a similar fashion, the oil for delivery in June contracts shed Rs 4.30, or 0.74% to Rs 573.10 per 10 kg in 88,100 lots.
Market analysts said offloading of positions by speculators, driven by subdued demand in the spot market against adequate stocks position, weighed on refined soya oil prices at futures trade.
Adequate stocks position in the physical market on higher supplies from producing belts also put pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in April month fell by Rs 4.45, or 0.74% to Rs 594.10 per 10 kg with an open interest of 1,07,865 lots.
In a similar fashion, the oil for delivery in June contracts shed Rs 4.30, or 0.74% to Rs 573.10 per 10 kg in 88,100 lots.
Market analysts said offloading of positions by speculators, driven by subdued demand in the spot market against adequate stocks position, weighed on refined soya oil prices at futures trade.
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First Published: Feb 23 2015 | 2:10 PM IST