Refined soya oil down 0.3% on low demand

Oil for delivery in October weakened by 0.03%

Refined soya oil prices eased by 0.34% to Rs 575 per 10 kg in futures trading today as speculators trimmed positions amidst low demand in the spot market against adequate stocks positions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November declined by Rs 1.95, or 0.34%, to Rs 575 per 10 kg with an open interest of 1,07,670 lots.

Likewise, the oil for delivery in October weakened by 20 paise, or 0.03%, to Rs 590.80 per 10 kg in 3,320 lots.

Analysts said offloading of positions by speculators, driven by low demand in the spot market against higher supplies from producing belts, mainly influenced refined soya oil prices at futures trade.