Refined soya oil futures down 0.38% on sluggish spot demand

Refined soya oil prices were down by 0.38 per cent to Rs 567.25 per 10 kg in futures trade today as participants reduced exposure amid easing demand at the spot market.
Also, adequate stocks position in the physical market on higher supplies from producing region put pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in August month fell Rs 2.15, or 0.38 per cent to Rs 567.25 per 10 kg with an open interest of 1,05,225 lots.
Likewise, the oil for delivery in October contracts declined by Rs 1.70, or 0.31 per cent to Rs 553.70 per 10 kg in 90,020 lots.

Analysts said offloading of positions by participants amid subdued demand at the spot market mainly weighed on refined soya oil prices at futures trade.