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Refined soya oil prices moved down 0.84% to Rs 575.55 per 10 kg in futures trade today as speculators reduced holdings amid low demand in the spot market against adequate stocks positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November declined Rs 4.85, or 0.84% to Rs 575.55 per 10 kg with an open interest of 1,13,470 lots.
Similarly, oil for delivery in October traded lower by Rs 2.55, or 0.43% to Rs 587.10 per 10 kg in 10,505 lots.
Analysts said offloading of positions by speculators, driven by low demand in the spot market against adequate stocks position, mainly led to the decline in refined soya oil prices in futures trade.
