Refined soya oil dropped by Rs 5.80, or 1.18 per cent, to Rs 484.35 per 10 kg in futures market today, as speculators offloaded their positions, driven by a subdued demand in the spot market.
At Multi Commodity Exchange counter, refined soya oil for October fell by Rs 5.80, or 1.18 per cent, to Rs 484.35 per 10 kg, with an open interest of 172 lots.
Similarly, the oil for delivery in September dropped by Rs 4.80, or 0.98 per cent, to Rs 485.80 per 10 kg, with an open interest of 478 lots.
Market analysts said fall in refined soya oil prices was due to off-loading by speculators, sluggish demand at spot markets against adequate stocks position.
