Refined soya oil down 0.3% on ample stocks

Refined soya oil were down by 0.27% to Rs 633.50 per 10 kg in futures market today as traders reduced exposure, driven by adequate stocks on higher supplies from producing belts at spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 1.70, or 0.27% to Rs 633.50 per 10 kg with an open interest of 1,08,990 lots.

Similarly, the oil for delivery in July shed 65 paise, or 0.10% to Rs 628.50 per 10 kg in 4,720 lots.

Analysts said trimming of positions by participants, triggered by ample stocks on higher supplies from producing regions in the physical market against weak demand mainly weighed on refined soya oil prices at futures trade.