Refined soya oil weakens 0.66% on adequate supply

Traders pare positions amid sluggish offtake in the spot market

Refined soya oil prices declined 0.66 per cent to Rs 621.25 per 10 kg in futures trading today as speculators reduced positions amid sluggish demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September fell by Rs 4.15, or 0.66 per cent, to Rs 621.25 per 10 kg with an open interest of 95,785 lots.

The October contract shed Rs 2.20, or 0.38 per cent, to Rs 584.40 per 10 kg in 87,720 lots.

Analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate stocks position mainly led to the fall in refined soya oil prices at futures trade.