Refined soya oil remains weak on low demand

November, December contracts sheds 0.3% each as traders pare positions

Refined soya oil remained weak for the second straight day and prices traded lower by 0.33 per cent to Rs 574 per 10 kg in futures trade today as speculators reduced positions amid low demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December fell by Rs 1.90, or 0.33 per cent to Rs 574 per 10 kg with an open interest of 17,010 lots.

The November contract traded lower by Rs 1.70, or 0.29 per cent to Rs 583.50 per 10 kg in 1,00,790 lots.

Market analysts said offloading of positions by traders, due to subdued demand in the spot market, mainly kept pressure on refined soya oil prices in futures trade.