Refined soya oil down 0.3% on muted demand

Continuing its losing streak for the seventh straight day, refined soya oil prices eased further by 0.27% to Rs 656.10 per 10 kg in futures market today as participants engaged in trimming their positions, taking negative cues from spot market on easing demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October drifted lower by Rs 1.80, or 0.27% to Rs 656.10 per 10 kg with an open interest of 50,650 lots.

Likewise, the oil for delivery in September contracts shed Rs 1.40, or 0.22% to Rs 648.90 per 10 kg in 53,800 lots.

Analysts said offloading of positions by traders due to subdued demand in the spot market against adequate stocks position, mainly kept refined soya oil prices lower at futures trade.