Low demand hurt refined soya oil futures by 0.71%

Refined soya oil prices moved down by 0.71 per cent to Rs 633.15 per 10 kg in futures trade today as the participants trimmed their exposure, driven by easing demand in the spot market.
Besides, adequate stocks positions on higher supplies from producing regions put pressure on refined soya oil.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August fell by Rs 4.50, or 0.71 per cent to Rs 633.15 per 10 kg with an open interest of 1,07,370 lots.
Likewise, the oil for delivery in July month contracts eased by Rs 3.95, or 0.63 per cent to Rs 627.85 per 10 kg in 35,650 lots.

Analysts said cutting down of positions by traders on the back of sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts mainly dragged down refined soya oil prices at futures trade.