Refined soya oil futures down 0.94% on low demand

Refined soya oil prices moved down by 0.94 per cent to Rs 682 per 10 kg in futures trade today as participants reduced their exposure, driven by easing demand in the spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February fell by Rs 6.50, or 0.94 per cent, to Rs 682 per 10 kg, with an open interest of 4,320 lots.
Likewise, the oil for delivery in March was trading lower by Rs 5.40, or 0.79 per cent, to Rs 674.75 per 10 kg in 53,290 lots.
Analysts said offloading of positions by participants amid sluggish demand in the spot market against ample stocks on increased supplies from growing regions, mainly weighed on refined soya oil prices at futures trade.