Refined soya oil futures down 0.32 pc on sluggish demand

Refined soya oil prices drifted lower by 0.32 per cent to Rs 708 per 10 kg in futures trade today as participants reduced their exposure amid subdued demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December moved down by Rs 2.30, or 0.32 per cent to Rs 708 per 10 kg with an open interest of 49,090 lots.

On similar lines, the oil for delivery in far-month January shed Rs 1.65, or 0.23 per cent to Rs 708.10 per 10 kg in 30,870 lots.

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