Refined soya oil prices drifted lower by 0.38 per cent to Rs 718.05 per 10 kg in futures trade today as participants trimmed their positions, tracking a weak trend at spot market on sluggish demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January fell by Rs 2.75, or 0.38 per cent, to Rs 718.05 per 10 kg, with an open interest of 57,700 lots.
Likewise, the oil for delivery in December traded lower by Rs 1.65, or 0.23 per cent, to Rs 720.80 per 10 kg in 11,830 lots.
Analysts said offloading of positions by participants on the back of tepid demand in the spot market against ample stocks position on increased supplies from growing regions, mainly led to the decline in refined soya oil prices at futures trade.
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