Refined soya oil turned weak and lost Rs 5.95, or 1.15 per cent, to Rs 511 per 10 kg in futures trade today, as traders made profits at higher levels, driven by a fall in demand in the spot market.
At the Multi Commodity Exchange counter, refined soya oil for delivery in October-month contract fell by Rs 5.95, or 1.15 per cent, to Rs 511 per 10 kg, with a trading volume of six lots.
Similarly, the refined soya oil for delivery in September contract declined by Rs 3.20, or 0.62 per cent, to Rs 511.10 per 10 kg, with a business turnover of 22 lots, while the current-month August delivery eased by Rs 3.15, or 0.62 per cent, to Rs 505.10 per 10 kg, with a business volume of one lot.
The fall in refined soya oil is due to speculators, who indulged in profit-taking at higher levels in the spot market, traders said.