Business Standard

Refined soya oil futures slip on negative spot leads

Image

Press Trust of India New Delhi

Refined soya oil prices slipped by 0.23 per cent to Rs 728 per 10 kg in futures market today as speculators reduced their holdings, taking negative cues from spot market on low demand.

Besides, adequate stocks position on increased supplies from growing regions, too weighed on prices.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September declined by Rs 1.65, or 0.23 per cent to Rs 728 per 10 kg with an open interest of 40,530 lots.

In a similar fashion, the oil for delivery in October contracts shed 50 paise, or 0.07 per cent to Rs 724.20 per 10 kg in 13,630 lots.

 

Analysts said cutting down of positions by participants owing to slackened demand in the physical markets against sufficient stocks position on increased arrivals from producing belts, mainly led to decline in refined soya oil prices at futures trade.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 28 2018 | 12:10 PM IST

Explore News