Refined soya oil remained weak and prices drifted lower by 0.28 per cent to Rs 743.40 per 10 kg in futures market today as speculators cut bets, tracking a weak trend at spot market on muted demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March declined by Rs 2.10, or 0.28 per cent, to Rs 743.40 per 10 kg with an open interest of 27,730 lots.
Similarly, the oil for delivery in February contracts shed Rs 1.55, or 0.21 per cent, to Rs 738.80 per 10 kg in 27,070 lots.
Analysts said offloading of positions by participants on the back of easing demand in the physical market against ample stocks position on increased arrivals from producing belts kept refined soya oil prices futures down.
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