Refined soya oil futures remain weak on low demand

Refined soya oil prices drifted further lower by 0.68 per cent to Rs 747.45 per 10 kg in futures trading today as speculators cut bets on the back of easing demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August fell by Rs 5.15, or 0.68 per cent, to Rs 747.45 per 10 kg with an open interest of 45,990 lots.

Similarly, the oil for delivery in July was trading lower by Rs 2.55, or 0.34 per cent, at Rs 748 per 10 kg in 18,890 lots.

Traders said offloading of positions by traders as demand eased in the physical market against ample stocks position on increased supplies from producing regions kept refined soya oil prices down in futures trade.

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