Refined soya oil futures down 1.57% on low demand

Refined soya oil prices dropped by 1.57 per cent to Rs 617.05 per 10 kg in futures trade today as participants reduced their exposure amid fall in demand in the spot market against sufficient stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May fell by Rs 9.85, or 1.57 per cent to Rs 617.05 per 10 kg with an open interest of 51,930 lots.
On a similar note, the oil for delivery in April contracts was trading lower by Rs 8.40, or 1.30 per cent to Rs 635.50 per kg in 43,510 lots.

Analysts said trimming of positions by traders due to easing demand in the spot market against adequate stocks position on increased supplies from producing regions, mainly pulled down refined soya oil prices at futures trade.