Refined soya oil prices were down by 0.47 per cent to Rs 744.80 per 10 kg in futures trade today as speculators cut their bets on the back of subdued demand in the spot market.
Besides, ample stocks position on increased arrivals from producing belts, too, fuelled the downtrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June fell by Rs 3.50, or 0.47 per cent to Rs 744.80 per 10 kg with an open interest of 40,080 lots.
Likewise, the oil for delivery in far-month July was trading lower by Rs 3.45, or 0.45 per cent to Rs 757.80 per 10 kg in 41,070 lots.
Analysts said off-loading of positions by participants owing to sluggish demand in the physical market against sufficient stocks position on increased supplies from growing regions, mainly pulled down refined soya oil prices at futures trade.
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