Refined soya oil drifted further lower by 0.30 per cent to Rs 642 per 10 kg in futures trade today as traders reducing their holdings, triggered by adequate stocks position at spot market against sluggish demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July month fell by Rs 1.95, or 0.30 per cent to Rs 642 per 10 kg with an open interest of 1,00750 lots.
Similarly, the oil for delivery in August contracts shed Rs 1.60 or 0.25 per cent to Rs 644.80 per 10 kg in 1,03,670 lots.
Marketmen said offloading of positions by participants against sufficient stocks on higher supplies from producing regions in the physical market amid subdued demand kept refined soya oil prices down at futures trade.
