Refined soya oil futures slide 0.53 pc on low demand

Refined soya oil prices moved down by 0.53 per cent to Rs 643.20 per 10 kg in futures trading today as participants cut down positions, taking weak cues from spot market on sluggish demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August fell by Rs 3.40, or 0.53 per cent, to Rs 643.20 per 10 kg in a business turnover of 29,410 lots.

Similarly, the oil for delivery in September also enquired lower by Rs 2.85, or 0.44 per cent, to Rs 650 per 10 kg in 5,790 lots.

Analysts said offloading of positions by traders on the back of tepid demand in the physical market against ample stocks position on increased supplies from producing belts mainly led to the decline in refined soya oil prices at futures trade.