Refined soya oil prices drifted lower by 0.17 per cent to Rs 754.60 per 10 kg in futures trade today as speculators cut positions, tracking a weak trend in the spot market on fall in demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March shed Rs 1.25, or 0.17 per cent, to Rs 754.60 per 10 kg with an open interest of 30,620 lots.
Similarly, the oil for delivery in April contracts was trading lower by Rs 1.20, or 0.16 per cent to Rs 759.65 per 10 kg in 31,640 lots.
Analysts said offloading of positions by traders due to decline in demand in the physical market against adequate stocks position on increased supplies from producing regions weighed on refined soya oil futures.
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