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Refined soya oil prices were down by 0.42 per cent to Rs 581.45 per 10 kg in futures trade today as traders reduced positions, driven by sluggish demand in spot markets.
In addition, adequate stocks position in the physical market on higher supplies from producing belts put pressure on refined soya oil prices.
At National Commodity and Derivatives Exchange, refined soya oil for delivery in August month traded lower by Rs 2.45, or 0.42 per cent to Rs 581.45 per 10 kg with an open interest of 2,14,710 lots.
On similar lines, the oil for delivery in October contracts shed Rs 2.05, or 0.36 per cent to Rs 567.50 per 10 kg in 75,535 lots.
Market analysts said offloading of positions by traders due to slackened demand in the spot market mainly weighed on refined soya oil prices at futures trade.
