Continuing its falling trend for the third straight day, refined soya oil eased further by 0.16 per cent to Rs 644 per 10 kg in futures trading today as traders engaged in reducing their positions, tracking a weak trend at spot market on easing demand against adequate stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October declined by Re 1, or 0.16 per cent to Rs 644 per 10 kg with an open interest of 60,390 lots.
Similarly, the oil for delivery in September contracts weakened by 35 paise, or 0.05 per cent to Rs 640 per 10 kg in 14,750 lots.
Analysts said trimming of positions by participants owing to tepid demand in the spot market against sufficient stocks position on higher supplies from producing regions, mainly kept refined soya oil prices lower at futures trade.
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