Refined soya oil futures weaken by 0.36% on low demand

Refined soya oil prices moved down by 0.36 per cent to Rs 587 per 10 kg in futures trade today as speculators reduced holdings amid low demand in the spot market.
Besides, adequate stocks position in the physical market on higher supplies from producing belts, put pressure on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November traded lower by Rs 2.10, or 0.36 per cent, to Rs 587 per 10 kg with an open interest of 36,945 lots.
Similarly, the oil for delivery in December shed Rs 1.15, or 0.19 per cent, to Rs 592.60 per 10 kg in 88,430 lots.

Analysts said offloading of positions by speculators, driven by low demand in the spot market against adequate stocks position, influenced refined soya oil prices in futures trade.