Refined soya oil prices drifted lower by 0.22 per cent to Rs 724.45 per 10 kg in futures trade today as participants trimmed their positions, driven by easing demand in the spot market against ample stocks.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January month declined by Rs 1.60, or 0.22 per cent to Rs 724.45 per 10 kg with an open interest of 25,000 lots.
Similarly, the oil for delivery in February contracts was trading lower by Rs 1.20, or 0.17 per cent to Rs 715.95 per 10 kg in 34,780 lots.
Analysts said, trimming of positions by traders amid fall in demand in the spot market against sufficient stocks position on increased supplies from growing regions, mainly helped refined soya oil prices to trade lower at futures trade.
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