Refined soya oil futures down 0.31% on sluggish demand

Refined soya oil prices were down 0.31 per cent to Rs 652 per 10 kg in futures trading today as speculators reduced exposure amid fall in demand at the spot market against ample stocks.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September drifted lower by Rs 2, or 0.31 per cent to Rs 652 per 10 kg with an open interest of 40,120 lots.
On similar lines, the oil for delivery in August month contracts weakened by Rs 1.70, or 0.26 per cent to Rs 646.10 per 10 kg in 36,500 lots.
Analysts said offloading of positions by traders due to fall in demand at the spot market against adequate stocks position mainly weighed on refined soya oil prices at futures trade.