Refined soya oil prices drifted lower by 0.71 per cent to Rs 744.50 per 10 kg in futures trade today as speculators reduced exposure, taking negative cues from spot market on subdued demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March fell by Rs 5.30, or 0.71 per cent, to Rs 744.50 per 10 kg with an open interest of 24,480 lots.
Likewise, the oil for delivery in February shed Rs 4.90, or 0.65 per cent, to Rs 745.75 per 10 kg in 37,840 lots.
Analysts said offloading of positions by traders on the back of easing demand in the physical market against ample stocks position, mainly influenced refined soya oil prices at futures trade.
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