Refined soya oil prices dip by 0.25 pc

Refined soya oil prices traded 0.25 per cent lower at Rs 729 per 10 kg in futures trading Monday as speculators trimmed positions amid sufficient stocks position at the physical markets. On the National Commodity and Derivatives Exchange, refined soya oil contracts for July delivery declined by Rs 1.8, or 0.25 per cent, to Rs 729 per 10 kg with an open interest of 46,080 lots.

Refined soya oil contracts for August delivery fell by Rs 3.05, or 0.42 per cent, to Rs 716.7 per 10 kg in a business turnover of 9,950 lots. Market analysts said participants cut down their positions due to a decline in demand in the physical market on increased supplies from producing belts, which led to the fall in prices.

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