Refined soya oil down 0.3% on sluggish spot demand

Speculators trim positions as stocks pile up in physical market

Refined soya oil prices were down by 0.30 per cent to Rs 588.65 per 10 kg in futures trade today as speculators trimmed positions amid low demand in the spot market against adequate stocks.

At National Commodity and Derivatives Exchange, refined soya oil for delivery in August month eased by Rs 1.75, or 0.30 per cent to Rs 588.65 per 10 kg with an open interest of 1,58,975 lots.

The June contract traded lower by Rs 1.45, or 0.24 per cent to Rs 594.10 per 10 kg in 91,710 lots.

Market analysts said off-loading of positions by speculators amid subdued demand in spot market against adequate stock position mainly led to decline in refined soya oil prices at futures trade.