Refined soya oil prices drifted lower by 0.46 per cent to Rs 762.70 per 10 kg in futures market today as speculators cut their bets amid easing demand in the spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June month declined by Rs 3.55, or 0.46 per cent to Rs 762.70 per 10 kg with an open interest of 56,720 lots.
On similar lines, the oil for delivery in July contract was trading lower by Rs 3.35, or 0.43 per cent to Rs 773 per 10 kg in 27,240 lots.
Traders said cutting down of positions by participants due to 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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