Refined soya oil futures remain weak on adequate supply

Refined soya oil prices drifted further down by 0.25 per cent to Rs 693 per 10 kg in futures trading today as speculators engaged in reducing their positions amid sufficient stocks position at the spot market against subdued demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November declined by Rs 1.75, or 0.25 per cent to Rs 693 per 10 kg with an open interest of 14,350 lots.

Similarly, the oil for delivery in December shed 80 paise, or 0.11 per cent to Rs 714.30 per 10 kg in 52,110 lots.

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

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