Refined soya oil futures decline 0.32% on low spot demand

NEW DELHI: Refined soya oil prices were down by 0.32 per cent to Rs 567 per 10 kg in futures trade today as traders trimmed position, taking negative cues from spot market on low demand.

At National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month November fell Rs 1.80, or 0.32 per cent to Rs 567 per 10 kg with an open interest of 41,750 lots.

Likewise, the oil for delivery in October contracts was trading lower by Rs 1.55, or 0.27 per cent to Rs 572 per 10 kg in 83,350 lots.

Analysts said offloading of positions by participants amid weak trend at spot market on sluggish demand against sufficient stocks position mainly kept pressure on refined soya oil prices at futures trade.