Refined soya oil declined by Rs 2.30 to Rs 495.25 per 10 kg in futures trade today as speculators reduced their positions driven by a weak spot market demand.
At the National Commodity and Derivatives Exchange, refined soya oil for October month fell by Rs 2.30, or 0.46 per cent, to Rs 495.25 per 10 kg with an open interest of 32,620 lots.
Similarly, the oil for delivery in August month lost Rs 1.70, or 0.35 per cent, to Rs 490.80 per 10 kg with a business volume of 69,670 lots.
Market analysts said fall in refined soya oil prices was due to fresh off-loading by speculators due to sluggish demand at the spot market.