Refined soya oil prices moved down by 0.80 per cent to Rs 740.50 per 10 kg in futures trade today as speculators cut bets, taking negative cues from spot market on easing 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 September fell by Rs 6, or 0.80 per cent to Rs 740.50 per 10 kg with an open interest of 22,600 lots.
Likewise, the oil for delivery in August shed Rs 3.45, or 0.46 per cent to Rs 743 per 10 kg in 49,230 lots.
Analysts said cutting down of positions by participants owing to lower demand in the physical markets against sufficient stocks position, led to decline in refined soya oil prices at futures trade.
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