Refined soya oil down 0.7% on subdued demand

Oil for delivery in April traded lower by 0.62%

Refined soya oil prices fell 0.71% to Rs 730.75 per 10 kg in futures trading today as speculators reduced holdings due to subdued demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March declined by Rs 5.20, or 0.71% to Rs 730.75 per 10 kg with an open interest of 49,340 lots.

Similarly, the oil for delivery in April traded lower by Rs 4.55, or 0.62% to Rs 730.50 per 10 kg in 104790 lots.

Analysts said attributed the fall in refined soya oil futures to sluggish demand in the spot market against adequate stocks position.