Refined soya oil declines 0.84 per cent on profit-booking

NEW DELHI: Refined soya oil prices fell by 0.84 per cent to Rs 651.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels, driven by subdued demand in the spot market.

Adequate stocks position in spot market further fuelled the downtrend.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July declined by Rs 5.50, or 0.84 per cent, to Rs 651.50 per 10 kg with an open interest of 1,79,440 lots.

Similarly, the oil for delivery in June shed Rs 4.60, or 0.68 per cent, to Rs 672 per 10 kg in 83,500 lots.

Analysts said besides profit-booking by speculators at prevailing levels, decline in demand in the spot market mainly weighed on refined soya oil prices at futures trade.