Refined soya oil futures slip 0.32% on low spot demand

Refined soya oil fell 0.32 per cent to Rs 551.45 per 10 kg in futures trade today as traders reduced position on the back of subdued demand at the spot market against adequate stocks position.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in October declined by Rs 1.75, or 0.32 per cent to Rs 551.45 per 10 kg with an open interest of 93,300 lots.
Similarly, the oil for delivery in August contracts eased by Rs 1.75, or 0.31 per cent to Rs 564.80 per 10 kg in 95,235 lots.
Analysts said offloading of positions by participants, driven by falling demand at the spot market mainly kept pressure on refined soya oil prices in futures trade.