Refined soya futures fall 0.58% on low demand

Refined soya oil prices eased by 0.58 per cent to Rs 621 per 10 kg in futures trade today as participants trimmed positions amid sluggish demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions weighed on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December month declined by Rs 3.60, or 0.58 per cent to Rs 621 per 10 kg with an open interest of 1,38,115 lots.
Similarly, the oil for delivery in November contracts traded lower by Rs 2.75, or 0.44 per cent to Rs 626.10 per 10 kg in 34,010 lots.

Market analysts attributed the fall in refined soya oil futures to subdued demand in the spot market against adequate stocks position on higher supplies from growing regions.