Refined soya oil futures remain weak as demand dips

Refined soya oil remained weak and prices fell by another 0.55 per cent to Rs 550.30 per 10 kg in futures market today, largely due to easing demand at the spot market.
Adequate stocks position on higher supplies from producing region also put pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by Rs 3.05, or 0.55 per cent to Rs 550.30 per 10 kg with an open interest of 92,965 lots.
Similarly, the oil for delivery in August contracts edged lower by Rs 2.95, or 0.52 per cent to Rs 563.30 per 10 kg in 1,02560 lots.

Analysts said offloading of positions by taders on the back of easing demand at the spot market mainly kept refined soya oil prices lower in futures trade.