Muted demand drags down refined soya oil futures 0.33%

Refined soya oil prices slipped 0.33 per cent to Rs 716 per 10 kg in futures trade today as speculators cut down bets amid subdued demand in the spot market against adequate stock position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January fell by Rs 2.35, or 0.33 per cent, to Rs 716 per 10 kg with an open interest of 41,730 lots.
Likewise, the oil for delivery in February contracts shed Rs 2, or 0.28 per cent, to Rs 721.20 per 10 kg in 39,550 lots.
Lower bets by participants owing to muted demand in the physical market against sufficient stocks impacted refined soya oil prices, market analysts said.