Refined soya oil futures down 0.51% on low demand

Refined soya oil prices slipped 0.51 per cent to Rs 741.10 per 10 kg in futures trade today as speculators cut positions, tracking a weak trend in the spot market on muted demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March declined Rs 3.80, or 0.51 per cent, to Rs 741.10 per 10 kg with an open interest of 33,280 lots.

Similarly, the oil for delivery in February contracts shed Rs 3.30, or 0.45 per cent, to Rs 735.30 per 10 kg in 12,370 lots.

Analysts said offloading of positions by traders due to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions weighed on refined soya oil futures.