Refined soya oil futures soften 0.41 pc on sluggish demand

Refined soya oil prices moved down by 0.41 per cent to Rs 636 per 10 kg in futures trading today as speculators reduced their exposure amid subdued demand in the spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August month fell by Rs 2.60, or 0.41 per cent to Rs 636 per 10 kg with an open interest of 33,390 lots.
Likewise, the oil for delivery in September month contracts shed Rs 2.35, or 0.36 per cent to Rs 642.65 per 10 kg in 48,790 lots.
Analysts said cutting down of positions by traders on the back of easing demand in the spot market against adequate stocks position mainly weighed on refined soya oil prices in futures trade.