Refined soya oil futures remain weak on low demand

Refined soya oil prices drifted further down by 0.56 per cent to Rs 625.50 per 10 kg in futures market today as participants engaged in trimming their positions on the back of subdued demand in the spot markets.
Besides, adequate stocks position on increased supplies from producing regions also weighed on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May fell by Rs 3.55, or 0.56 per cent, to Rs 625.50 per 10 kg, with an open interest of 54,440 lots.
Likewise, the oil for delivery in April was trading lower by Rs 2.15, or 0.34 per cent, to Rs 637.65 per 10 kg in 38,720 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 kept refined soya oil prices down at futures trade.