Muted demand drags refined soya oil futures down by 0.50%

Refined soya oil prices drifted lower by 0.50 per cent to Rs 651.80 per 10 kg in futures trade today as participants reduced their exposure amid easing demand in the spot market.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in April fell by Rs 3.25, or 0.50 per cent, to Rs 651.80 per 10 kg with an open interest of 50,160 lots.
Likewise, soya oil for delivery in March contracts shed Rs 1.90, or 0.29 per cent, to Rs 661 per 10 kg in 34,040 lots.
Analysts said offloading of positions by traders due to fall in demand in the physical market against adequate stocks position on higher supplies from producing regions, mainly led to decline in refined soya oil prices at futures trade.