Refined soya oil weakens by 0.28% on profit-booking

Speculators exit on higher arrivals from producing areas and build up of inventories

Refined soya oil prices fell further by 0.28 per cent to Rs 579.25 per 10 kg in futures trade today as speculators booked profits at prevailing levels amidst sluggish demand in the spot market.

Adequate stocks position in the physical market on higher arrivals from producing belts also put pressure on refined soya oil, analysts said.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November shed Rs 1.60, or 0.28 per cent, to Rs 579.25 per 10 kg with an open interest of 1,08,895 lots.

The October contract lost Rs 1.05, or 0.18 per cent, to Rs 589.50 per 10 kg in 6,025 lots.