Refined soya oil futures remain weak on low demand

NEW DELHI, July 17: Refined soya oil prices eased further by 0.19 per cent to Rs 742.80 per 10 kg in futures trade today as speculators engaged in reducing holdings amid easing demand at the spot market.
Besides, adequate stocks position on increased arrivals from producing belts, weighed on the prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July declined by Rs 1.40, or 0.19 per cent, to Rs 742.80 per 10 kg with an open interest of 12,180 lots.
In a similar fashion,the oil for delivery in August shed Rs 1.10, or 0.15 per cent, to Rs 738.20 per 10 kg in 51,480 lots.
Traders said cutting down of positions by traders owing to slackened demand in the physical market against ample stocks position on increased supplies from producing regions kept refined soya oil prices down at futures trade. (PTI)