Refined soya oil futures down on sluggish demand

Refined soya oil futures prices traded low by Rs 1.45 to Rs 647.20 per 10 kg in futures trade today owing to slackness in demand in the spot market.

Adequate stocks position in the physical market also put pressure on the refined soya oil futures prices.  

At the Multi Commodity Exchange counter, refined soya oil for delivery in February declined by Rs 1.45, or 0.22 per cent, to Rs 647.20 per 10 kg, with a business turnover of two lots.

Likewise, the oil for delivery in January traded marginally lower by paise 85, or 0.13 per cent, to Rs 635 per 10 kg, with a business volume of four lots.

Market analysts said adequate stocks against sluggish demand, helped refined soya futures prices to trade lower.