Refined soya oil prices fell by 0.34 per cent to Rs 743.50 per 10 kg in futures trade Wednesday as speculators cut bets, taking negative cues from spot market on easing demand.
Adequate stocks position on increased supplies from growing regions, too, weighed on prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October declined by Rs 2.55, or 0.34 per cent, to Rs 743.50 per 10 kg with an open interest of 41,810 lots.
Analysts said cutting down of positions by participants owing to slackened demand in the physical markets against sufficient stocks position, weighed on refined soya oil prices in futures trade.
Similarly, the oil for delivery in September shed Rs 2.15, or 0.29 per cent, to Rs 740.75 per 10 kg in 18,680 lots.
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