Refined soya oil futures slide 0.30% on sluggish spot demand

Refined soya oil prices fell by 0.30 per cent to Rs 577.65 per 10 kg in futures trade today as traders reduced positions, triggered by subdued demand in spot markets.
Besides, adequate stocks position in the physical market on higher supplies from producing belts put pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 1.75, or 0.30 per cent, to Rs 577.65 per 10 kg with an open interest of 1,74,620 lots.
On similar lines, the oil for delivery in October traded lower by Rs 1.60, or 0.28 per cent, to Rs 564.55 per 10 kg in 90,770 lots.

Analysts said offloading of positions by participants due to low demand in the spot market mainly weighed on refined soya oil prices at futures trade.