Refined soya oil falls 1.52% on sluggish demand

Traders pare positions as inventories pile up

Refined soya oil prices fell 1.52 per cent to Rs 571 per 10 kg in futures trading today as speculators reduced positions amid sluggish demand in the spot market against adequate stocks positions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by Rs 8.80, or 1.52 per cent, to Rs 571 per 10 kg with an open interest of 89,080 lots.

The September contract traded lower by Rs 8.25, or 1.34 per cent, to Rs 607.80 per 10 kg in 90,795 lots.

Analysts said offloading of positions by speculators, triggered by subdued demand in the spot market against adequate stocks position, kept pressure on refined soya oil prices at futures trade.