Refined soya futures down 0.39% on sluggish demand

NEW DELHI: Refined soya oil prices moved down by 0.39 per cent to Rs 720.50 per 10 kg in futures trading today as speculators reduced their holdings amid sluggish demand in the spot market.

Adequate stocks in the physical market also put pressure on refined soya oil.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April declined by Rs 2.80, or 0.39 per cent to Rs 720.50 per 10 kg with an open interest of 30,050 lots.

Similarly, the oil for delivery in May traded lower by Rs 2.55, or 0.36 per cent to Rs 712.60 per 10 kg in 97,800 lots.

Market analysts said speculators reduced their positions, tracking a weak trend at spot market on sluggish demand against adequate stocks position mainly kept pressure on refined soya oil prices at futures trade.