Refined soya oil prices moved down by 0.45 per cent to Rs 740.80 per 10 kg in futures trade today as speculators reduced exposure, taking negative cues from spot market on easing demand.
At the National Commodity and Derivatives Exchange, the oil for delivery in February fell by Rs 3.35, or 0.45 per cent to Rs 740.80 per 10 kg with an open interest of 38,020 lots.
Similarly, the oil for delivery in January was trading lower by Rs 2.15, or 0.29 per cent to Rs 741.90 per 10 kg in 11,430 lots.
Analysts said cutting down of positions by traders following fall in demand in the physical market against ample stocks position, mainly influenced refined soya oil prices at futures trade.
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