Refined soya oil futures remain weak on easing demand

Taking weak cues from spot market on subdued demand, refined soya oil prices fell further by 0.34 per cent to Rs 594.60 per 10 kg in futures trade today.

At National Commodity and Derivatives Exchange, refined soya oil for delivery in August month shed Rs 2.05, or 0.34 per cent to Rs 594.60 per 10 kg with an open interest of 2,22715 lots.

Similarly, the oil for delivery in June contracts traded lower by Rs 1.25, or 0.21 per cent to Rs 606.30 per 10 kg in 20,390 lots.

Market analysts said besides easing demand at the spot market, adequate stocks position on higher supplies from producing belts, kept pressure on refined soya oil prices.