Refined soya oil futures slide 0.23% on low demand

Refined soya oil prices drifted lower by 0.23 per cent to Rs 645.70 per 10 kg in futures trading today as speculators reduced exposure amid subdued demand at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September fell by Rs 1.50, or 0.23 per cent to Rs 645.70 per 10 kg with an open interest of 26,020 lots.

Likewise, the oil for delivery in August month contracts shed 1.15, or 0.18 per cent to Rs 641.25 per 10 kg in 47,750 lots.

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

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)