Refined soya oil futures decline on profit taking

Refined soya oil futures prices declined by Rs 10.80 to Rs 560.45 per 10 kg today, as traders booked profits at higher levels influenced by fall in demand in the spot market.   

At the Multi Commodity Exchange counter, refined soya oil for delivery in December fell by Rs 10.80, or 1.89 per cent to Rs 560.45 per 10 kg, clocking a trading volume of 94 lots.

Similarly, the refined soya oil for delivery in January declined by Rs 9.30, or 1.59 per cent to Rs 572.80 per 10 kg, with a business volume of four lots.

Traders said the fall in refined soya oil was on the back of speculators booking profits at higher levels due to fall in demand in the spot market.