Muted demand drags down refined soya oil futures by 0.47%

Refined soya oil prices moved down by 0.47 per cent to Rs 639.60 per 10 kg in futures market today as speculators reduced exposure amid subdued demand in the spot market against ample stocks.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 3, or 0.47 per cent to Rs 639.60 per 10 kg with an open interest of 12,090 lots.
On similar lines, the oil for delivery in September contracts shed Rs 2.85, or 0.44 per cent to Rs 647.75 per 10 kg in 52,830 lots.
Analysts said offloading of positions by traders owing to sluggish demand in the physical market against adequate stocks position, led to decline in refined soya oil prices at futures trade.