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Soya oil ruled steady because of weak global cues and the absence of domestic demand.
In the spot market, soya refined was quoted at Rs 582-585 for 10 kg. But due to lack of domestic demand and weak KLC, soya refined prices declined to Rs 582-583. But even at this rate there were only few takers.
Soya solvent also ruled steady at Rs 550-555 on weak buying interest. In delivery, soya solvent was quoted at Rs 555 but it too had few takers at this rate.
In futures as well, soya oil witnessed grinding on weak Malaysian palm oil futures, besides lack of demand in the physical market. On the NBOT, soya refined May contract which opened at Rs 616.80, closed almost Rs 7 lower at Rs 609.70. Similarly, on the NCDEX soya oil futures closed lower on bearish foreign market.
Soya oil May contract on the NCDEXclosed Rs 6.80 lower at Rs 612.20. Soya seeds also ruled firm at Rs 2,270-2,300 a quintal on subdued buying interest. In Indore mandis , soya seeds were quoted at Rs 2,270-2,280 a quintal. Plant deliveries in soya bean were quoted at Rs 2,320-2,340, up Rs 20-25.
Soya DOC on Kandla port ruled steady at Rs 18,200-18,300 a quintal, while in the domestic market, DOC was quoted at Rs 17,200 a quintal.
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