Refined soya oil futures remain weak on sluggish demand

Refined soya oil prices fell further by 1.33 per cent to Rs 667.25 per 10 kg in futures trading today as traders reduced their positions, tracking a weak trend at spot market on subdued demand against adequate stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May dropped by Rs 9 or 1.33 per cent to Rs 667.25 per 10 kg with an open interest of 67,600 lots.
Similarly, the oil for delivery in June contracts declined by Rs 7.75 or 1.14 per cent to Rs 674 per 10 kg in 72,800 lots.
Analysts said offloading of positions by participants amid muted demand in the spot market against ample stocks position mainly kept refined soya oil prices lower at futures trade.