Refined soya oil down 0.89% at futures trade

Refined soya oil prices drifted by 0.89 per cent to Rs 575.90 per 10 kg in futures trade today as speculators trimmed positions amid subdued spot demand.
Besides, adequate stocks position in the physical market on increased supplies from producing belts kept pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in April month fell by Rs 5.15, or 0.89 per cent to Rs 575.90 per 10 kg with an open interest of 83,820 lots.
Likewise, the oil for delivery in May contracts traded down by Rs 4.95, or 0.88 per cent to Rs 555 per 10 kg in 1,20,560 lots.

Marketmen said offloading of positions by speculators, triggered by a decline in demand in the spot market against adequate stocks position, weighed on refined soya oil prices at futures trade.