Refined soya oil down 0.2% on weak spot demand

Refined soya oil were down by 0.17% to Rs 645 per 10 kg in futures market today as speculators cut down their positions, driven by subdued demand in the spot market.

Besides, adequate stocks position on higher supplies from producing regions put pressure on refined soya oil.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July declined by Rs 1.10 or 0.17% to Rs 645 per 10 kg with an open interest of 1,04,270 lots.

Likewise, the oil for delivery in August weakened by 45 paise or 0.07% to Rs 650 per 10 kg in 1,01,230 lots.
 

Marketmen said trimming of positions by traders due to easing demand in the spot market against adequate stocks position on higher supplies from producing belts, mainly led to the decline in refined soya oil prices at futures trade.