Refined soya futures soften on sluggish demand

Jan 02 2013, 16:45 IST
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SummaryRefined soya oil prices drifted by Rs 1.45 to Rs 698.90 per 10 kg in futures trading today as speculators reduced their positions after fall in demand in the spot market against sufficient supplies.

Refined soya oil prices drifted by Rs 1.45 to Rs 698.90 per 10 kg in futures trading today as speculators reduced their positions after fall in demand in the spot market against sufficient supplies.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January softened by Rs 1.45, or 0.21 per cent to Rs 698.90 per 10 kg with an open interest of 60,660 lots.

Likewise, the oil for delivery in February shed Rs 1.35, or 0.20 per cent to Rs 686.55 per 10 kg in 91,930 lots.

Market analysts said fall in demand in the spot market against adequate stocks position mainly put pressure on refined soya oil futures.

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