Refined soya oil prices drifted down by 0.79 per cent to Rs 77.80 per 10 kg in futures trade today as speculators cut down their bets, taking negative cues from spot market on easing demand.
Besides, ample stocks position on increased arrivals from producing belts, fulled the downtrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June fell by Rs 6.05, or 0.79 per cent to Rs 755.80 per 10 kg with an open interest of 54,070 lots.
Similarly, the oil for delivery in July declined by Rs 5.65, or 0.73 per cent to Rs 767.10 per 10 kg in 31,970 lots.
Analysts said off-loading of positions by participants, tracking a weak trend at spot market on fall in demand in the physical market against sufficient stocks position, mainly led to the slide in refined soya oil prices at futures trade.