Refined soya oil prices drifted lower by 0.34 per cent to Rs 637.90 per 10 kg in futures trading today as participants trimmed their positions, triggered by easing demand in the spot market.
In addition, ample stocks position on higher supplies from producing belts weighed on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June month declined by Rs 2.15, or 0.34 per cent to Rs 637.90 per 10 kg with an open interest of 97,440 lots.
Similarly, the oil for delivery in July contracts edged lower by Rs 1.05, or 0.16 per cent to Rs 644.55 per 10 kg in 91,770 lots.
Analysts said offloading of positions by traders due to subdued demand in the spot market against adequate stocks position on higher supplies from producing regions, mainly led to fall in refined soya oil prices at futures trade.
