The downtrend continued in soya oil on weak global cues and sluggish demand in physical market.

On Monday, soya refined declined to Rs 675-80 for 10 kg (Rs 680-85) on poor demand.

Similarly soya solvent also declined to Rs 635-40 (Rs 645-50).

Compared with last week, soya oil is down Rs 15.

The sluggish trend in soya oil is likely to continue in the coming days, unless demand picks up in the physical market.

In futures, however, soya oil traded low on weak buying support with its March and April contracts on the NCDEX closing at Rs 697.60 (down Rs 1.30) and Rs 690.90 (down Rs 4.90).

Soya seeds ruled flat at Rs 3320-50 a quintal amid subdued demand and negligible arrival.

Compared with last week, soya oil however, is ruling higher. Arrival of soyabean in Indoreremained negligible on account of closure of mandis today due to Ravidas Jayanti .

Plant deliveries in soyabean were quoted at Rs 3,350-3,400 (up Rs 25-30 from last week).

In futures, however, soyabean showed a mixed trend with March and April contracts closing at Rs 3,327 (up Re 1) and Rs 3,252 (down Rs 13).

Soyameal ruled flat amid slack demand with price in the domestic market on Monday being quoted at Rs 28,500, while it fetched Rs 29,700 at the port.

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