Refined soya oil futures dip 0.22%; hurt by sluggish demand

Refined soya oil prices moved down by 0.22 per cent to Rs 670.60 per 10 kg in futures trading today as speculators trimmed their positions, driven by subdued demand in the spot markets.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by Rs 1.45, or 0.22 per cent to Rs 670.60 per 10 kg with an open interest of 43,000 lots.
Similarly, the oil for delivery in November shed Rs 1.25, or 0.19 per cent to Rs 672.40 per 10 kg in 32,570 lots.
Analysts attributed the slide in refined soya oil futures to offloading of positions by participants on the back of weak demand in the spot market against sufficient stocks position.