Refined soya oil remains weak on sluggish spot demand

Continuing its losing streak for the third straight day, refined soya oil prices fell by another 0.63 per cent to Rs 601.15 per 10 kg in futures trade today as traders indulged in reducing positions, tracking a weak trend at the spot market on low demand.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in August month fell Rs 3.80, or 0.63 per cent to Rs 601.15 per 10 kg with an open interest of 2,01,130 lots.
In a similar fashion, the oil for delivery in June contracts traded lower by Rs 2.10, or 0.34 per cent to Rs 612.85 per 10 kg in 36,950 lots.

Market analysts said offloading of positions by traders on the back of subdued demand at the spot market against adequate stock position mainly kept refined soya oil prices lower at futures trade.