Refined soya oil futures down 0.56% on subdued demand

Refined soya oil prices were down 0.56 per cent to Rs 625.50 per 10 kg in futures trade today as traders trimmed their positions, taking negative cues from spot market on fall in demand against adequate stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June fell by Rs 3.50, or 0.56 per cent, to Rs 625.50 per 10 kg, with an open interest of 20,790 lots.
Similarly, the oil for delivery in July traded lower by Rs 3.45, or 0.55 per cent, to Rs 629.40 per 10 kg in 50,470 lots.
Analysts said offloading of positions by traders due to fall in demand in the spot market against adequate stocks position on increased supplies from producing regions mainly led to the decline in refined soya oil prices at futures trade.