Refined soya oil futures slide on ample stocks

Refined soya oil prices dipped 0.3 per cent to Rs 737 per 10 kg in futures trade Monday as speculators trimmed their bets, triggered by adequate supply at the spot market. On the National Commodity and Derivatives Exchange, refined soya oil for July contracts declined by Rs 2.2, or 0.3 per cent, to Rs 737 per 10 kg with an open interest of 48,060 lots.

Likewise, the oil for August contracts fell by Re 1, or 0.14 per cent, to Rs 726.8 per 10 kg in 21,950 lots. Market analysts said, cutting down of positions by participants against ample stocks mainly influenced the prices.

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