Refined soya oil futures remain weak on profit taking

Refined soya oil prices fell further by Rs 7.65 to Rs 646.30 per 10 kg in futures trading today, as speculators engaged in booking profits, driven by a fall in demand in the spot market.

At the Multi Commodity Exchange platform, refined soya oil for delivery in February fell by Rs 7.65, or 1.17 per cent, to Rs 646.30 per 10 kg, with an open interest of just one lot.

Similarly, the oil for delivery in January declined by Rs 6.35, or 1 per cent, to Rs 631.80 per 10 kg, with a business turnover of four lots.

Market analysts said profit taking by speculators, fall in demand at the spot market helped refined soya oil futures prices to trade lower.