Refined soya oil prices softened by 0.14 per cent to Rs 742.05 per 10 kg in futures trade today as speculators cut bets, triggered by adequate stocks position at spot market against muted demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 1.05, or 0.14 per cent, to Rs 742.05 per 10 kg with an open interest of 34,820 lots.
Likewise, the oil for delivery in September contracts shed 50 paise, or 0.07 per cent, to Rs 739.50 per 10 kg in 32,960 lots.
Analysts said trimming of of positions by participants, driven by sufficient stocks position on increased supplies from growing regions in the physical market against tepid demand, led to the decline in refined soya oil prices in futures trade.
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