Refined soya oil futures down on sluggish demand

NEW DELHI: Refined soya oil moved down by Rs 2.60, or 0.50 per cent, to Rs 515.45 per 10 kg in futures trade today, as speculators reduced their positions, driven by a subdued demand in the spot market.

At the Multi Commodity Exchange counter, refined soya oil for October moved down by Rs 2.60, or 0.50 per cent, to Rs 515.45 per 10 kg, with an open interest of 87,670 lots.

The oil for delivery in September also traded lower by Rs 1.60, or 0.31 per cent to Rs 517 per 10 kg, with a business volume of 739 lots.

Market analysts said fresh off-loading by speculators due to sluggish demand at spot markets pulled down the refined soya oil prices at futures trade.