Refined soya oil prices drifted lower by by 0.57 per cent to Rs 675 per 10 kg in futures market today as speculators cut down positions, taking negative cues from spot market on tepid demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November fell by Rs 3.90, or 0.57 per cent to Rs 675 per 10 kg with an open interest of 31,310 lots.
Similarly, the oil for delivery in October declined by Rs 3, or 0.44 per cent to Rs 674.15 per 10 kg in 46,840 lots.
Analysts attributed the slide in refined soya oil futures to offloading of positions by traders owing to slackened demand in the spot market against sufficient stocks position, mainly led to decline in refined soya oil prices at futures trade.
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