Refined soya oil futures remain weak on muted demand

Refined soya oil fell by 0.46 per cent to Rs 650 per 10 kg in futures market today as participants reduced holdings on the back of sluggish demand at spot market.
Besides, adequate stocks position on higher supplies from producing regions put pressure on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month June dropped by Rs 3, or 0.46 per cent to Rs 650 per 10 kg with an open interest of 1,25,230 lots.
Similarly, the oil for delivery in May eased by Rs 1.15, or 0.18 per cent to Rs 636.60 per 10 kg in 4,060 lots.

Analysts said offloading of positions by traders due to easing demand in the spot market against ample stocks on higher supplies from producing belts kept refined soya oil prices lower at futures trade.