Refined soya oil futures slide 0.59% on tepid demand

Refined soya oil prices declined 0.59 per cent to Rs 618.30 per 10 kg in futures trade today as traders trimmed their positions, driven by easing demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell by Rs 3.70, or 0.59 per cent, to Rs 618.30 per 10 kg with an open interest of 46,790 lots.

Similarly, the oil for delivery in June contracts traded lower by Rs 3.25, or 0.52 per cent, to Rs 617.30 per 10 kg in 26,270 lots.

Analysts said offloading of positions by traders owing to slackened demand in the spot market against adequate stocks position on increased supplies from producing regions mainly led to the decline in refined soya oil prices at futures trade.