Refined soya oil prices dropped by 1 per cent to Rs 776.50 per 10 kg in futures market today as speculators cut their bets, driven by a fall in demand in the spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell by Rs 7.85, or 1 per cent, to Rs 776.50 per 10 kg with an open interest of 28,530 lots.
On similar lines, the oil for delivery in June contracts was trading lower by Rs 5.90, or 0.76 per cent, to Rs 768 per 10 kg in 60,430 lots.
Analysts said offloading of positions by participants due to easing demand in the physical market against adequate stocks position on increased arrivals from producing belts, weighed on refined soya oil prices in futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
