Refined soya oil futures falls 0.48% on weak demand

Refined soya oil weakened by another 0.48 per cent to Rs 661.25 per 10 kg in futures market today as participants engaged in trimming positions, driven by easing demand in the spot market.
Furthermore, adequate stocks position on higher supplies from producing regions fuelled the downtrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May month fell by Rs 3.20, or 0.48 per cent to Rs 661.25 per 10 kg with an open interest of 64,490 lots.
Likewise, the oil for delivery in June contracts shed Rs 1.45, or 0.22 per cent to Rs 669.90 per 10 kg in 86,150 lots.

Analysts said offloading of positions by traders, triggered by muted demand in the spot market against sufficient stocks position mainly kept refined soya oil prices down at futures trade.