Continuing its losing streak for the fourth straight day, refined soya oil prices declined 0.47 per cent to Rs 736.80 per 10 kg in futures market today as speculators cut their holdings amid fall in demand at the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell Rs 3.50, or 0.47 per cent to Rs 736.80 per 10 kg with an open interest of 50,640 lots.
Likewise, the oil for delivery in June was trading lower by Rs 2.85, or 0.39 per cent to Rs 729.45 per 10 kg in 29,680 lots.
Analysts said cutting down of positions by participants due to slump in demand in the physical market against adequate stocks position on increased arrivals from producing regions mainly kept refined soya oil prices down at futures trade.
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