 "Refined soya oil declines 0.88% on low spot demand")
Refined soya oil prices eased by 0.88 per cent to Rs 588.20 per 10 kg in futures trade today as speculators offloaded positions amid sluggish demand in spot market as against adequate stocks position.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in June moved down by Rs 5.20, or 0.88 per cent, to Rs 588.20 per 10 kg with an open interest of 1,11,375 lots.
Likewise, the oil for delivery in August traded lower by Rs 4.15, or 0.71 per cent, to Rs 578.25 per 10 kg in 1,48,245 lots.
Market analysts said offloading of positions by speculators on the back of low demand in spot market as against adequate stocks position led to decline in refined soya oil prices at futures trade.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in June moved down by Rs 5.20, or 0.88 per cent, to Rs 588.20 per 10 kg with an open interest of 1,11,375 lots.
Likewise, the oil for delivery in August traded lower by Rs 4.15, or 0.71 per cent, to Rs 578.25 per 10 kg in 1,48,245 lots.
Market analysts said offloading of positions by speculators on the back of low demand in spot market as against adequate stocks position led to decline in refined soya oil prices at futures trade.