Muted demand drags down refined soya oil futures by 0.88%

Refined soya oil prices moved down by 0.88 per cent to Rs 650.85 per 10 kg in futures trading today as speculators reduced exposure amid fall in demand at the spot market against ample stocks.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September fell by Rs 5.75, or 0.88 per cent to Rs 650.85 per 10 kg with an open interest of 55,590 lots.

Likewise, the oil for delivery in August contracts shed Rs 4.20, or 0.65 per cent to Rs 639.10 per 10 kg in 17,820 lots.

Analysts said offloading of positions by traders due to easing demand in the spot market against adequate stocks position mainly weighed on refined soya oil prices at futures trade.

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