Refined soya oil futures slide 0.12% on sluggish demand

Refined soya oil prices were down by 0.12 per cent to Rs 648.55 per 10 kg in futures market today as participants trimmed their positions, driven by low demand in the spot market.
Besides, adequate stocks position on higher supplies from producing belts weighed on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June declined by 80 paise, or 0.12 per cent, to Rs 648.55 per 10 kg, with an open interest of 81,310 lots.
Similarly, the oil for delivery in July shed 50 paise, or 0.08 per cent, to Rs 655.70 per 10 kg in 97,400 lots.

Analysts said offloading of positions by traders due to subdued demand in the spot market against sufficient stocks on higher supplies from producing regions, mainly led to the decline in refined soya oil prices at futures trade.