Refined soya oil falls 0.20% on subdued demand

Higher supplies from producing regions also exert pressure on prices

Refined soya oil shed 0.20 per cent to Rs 588.45 per 10 kg in futures trade today as speculators trimmed positions due to sluggish demand in the spot market.

Besides, adequate stocks position in the physical market on higher supplies from producing belts put pressure on refined soya oil prices.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December declined by Rs 1.15, or 0.20 per cent, to Rs 588.45 per 10 kg with an open interest of 95,115 lots.

On similar lines, the oil for delivery in November shed Rs 1.05, or 0.18 per cent, to Rs 581.80 per 10 kg in 25,895 lots.
 
Market analysts said offloading of positions by traders, following weak demand in the spot market, mainly led to the decline in refined soya oil prices at futures trade.