Refined soya oil futures decline by 0.90% on profit-booking

Refined soya oil prices moved down by 0.90 per cent to Rs 647 per 10 kg in futures trade today as speculators booked profits, driven by fall in demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April fell by Rs 5.85, or 0.90 per cent, to Rs 647 per 10 kg, with an open interest of 46,380 lots.

Likewise, the oil for delivery in May traded lower by Rs 5, or 0.78 per cent, to Rs 637 per 10 kg in 47,740 lots.

Analysts said besides profit-booking by participants at existing level, fall in demand in the spot market against adequate stocks position on increased supplies from producing belts, mainly put pressure 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.)