Refined soya oil prices declined by 0.31 per cent to Rs 778.10 per 10 kg in futures market today as speculators cut positions, driven by easing demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June fell by Rs 2.40, or 0.31 per cent, to Rs 778.10 per 10 kg with an open interest of 11,140 lots.
In a similar fashion, the oil for delivery in May contracts shed Rs 2.35, or 0.30 per cent, to Rs 774.30 per 10 kg in 55,040 lots.
Analysts said offloading of positions by participants due to a slump in demand in the physical market against adequate stocks position on increased arrivals from producing belts weighed on refined soya oil prices in futures trade.
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