Continuing its losing streak for the second straight day, refined soya oil prices drifted further lower by 0.35 per cent to Rs 678.10 per 10 kg in futures trading today as participants engaged in trimming their positions amid a weak trend in the spot markets on ample stocks.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February shed Rs 2.40, or 0.35 per cent, to Rs 678.10 per 10 kg, with an open interest of 3,770 lots.
On similar lines, the oil for delivery in March was trading lower by Rs 2.10, or 0.31 per cent, to Rs 668.45 per 10 kg in 53,070 lots.
Analysts said offloading of positions by participants amid fall in demand in the spot market against ample stocks on increased supplies from growing regions, mainly kept refined soya oil prices down at futures trade.
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