Refined soya oil prices drifted lower by 0.51 per cent to Rs 669.90 per 10 kg in futures trade today as participants reduced their exposure amid tepid demand in the spot market against adequate stocks.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November month fell by Rs 3.45, or 0.51 per cent to Rs 669.90 per 10 kg with an open interest of 56,800 lots.
Similarly, the oil for delivery in December contracts moved down by Rs 2.40, or 0.35 per cent to Rs 678.90 per 10 kg in 58,190 lots.
Analysts said offloading of positions by traders on the back of low demand in the spot market against ample stocks position on higher supplies from producing regions, mainly led to decline in refined soya oil prices at futures trade.
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