Refined soya oil prices drifted lower by 0.49 per cent to Rs 734 per 10 kg in futures trade on Friday as speculators cut down bets, taking negative lead from spot market on subdued demand.
Besides, adequate stocks position on increased supplies from growing regions, too weighed on prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell Rs 3.65, or 0.49 per cent to Rs 734 per 10 kg with an open interest of 51,850 lots.
Similarly, the oil for delivery in September contracts shed Rs 1.55, or 0.21 per cent to Rs 735.35 per 10 kg in 17,690 lots.
Analysts said cutting down of positions by participants owing to slackened demand in the physical markets against sufficient stocks position, led to decline in refined soya oil prices at futures trade.
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