Refined soya oil down 0.5%, hurt by low demand

Refined soya oil prices drifted by 0.49% to Rs 645 per 10 kg in futures trading today as participants cut their bets amid muted demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April fell Rs 3.20, or 0.49%, to Rs 645 per 10 kg, with an open interest of 2,940 lots.

Likewise, the oil for delivery in far-month May eased by Rs 2.90, or 0.44%, to Rs 657.35 per 10 kg in 83,980 lots.

Analysts said offloading of positions by traders amid sluggish demand in the spot market against adequate stocks position mainly attributed the fall in refined soya oil prices at futures trade.