Refined soya oil futures weaken by 0.20% on subdued demand

Refined soya oil prices drifted 0.20 per cent to Rs 619.30 per 10 kg in futures trade today as traders trimmed positions, taking negative cues from spot market on low demand.
Besides, adequate stocks on higher supplies from producing regions fuelled the downtrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February fell by Rs 1.25, or 0.20 per cent to Rs 619.30 per 10 kg with an open interest of 7,010 lots.
Likewise, the oil for delivery in March eased by 25 paise, or 0.04 per cent to Rs 628.20 per 10 kg in 66,310 lots.

Analysts attributed the fall in refined soya oil futures to muted demand at the spot market against adequate stocks on higher supplies from producing belts.