Muted demand drags down refined soya oil futures by 0.33%

Refined soya oil prices edged lower by 0.33 per cent to Rs 750.50 per 10 kg in futures trading Thursday as speculators reduced exposure amid subdued demand at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November moved down by Rs 2.45, or 0.33 per cent, to Rs 750.50 per 10 kg with an open interest of 36,170 lots.

Similarly, the oil for delivery in current month was trading lower by Rs 1.45, or 0.19 per cent, to Rs 747.50 per 10 kg in 20,690 lots.

Market analysts said offloading of positions by participants following tepid demand in the physical market against ample stocks position on increased supplies from producing belts, mainly weighed on refined soya oil prices at the futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)