Refined soya oil prices drifted lower by 0.19 per cent to Rs 699.25 per 10 kg in futures trade today as speculators reduced exposure amid subdued demand in the spot markets against adequate stocks position.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November fell by Rs 1.35, or 0.19 per cent to Rs 699.25 per 10 kg with an open interest of 14,850 lots.
Similarly, the oil for delivery in December shed 65 paise, or 0.09 per cent to Rs 715 per 10 kg in 48,520 lots.
Market analysts said offloading of positions by traders due to muted demand in the physical market against ample stocks position on increased supplies from producing belts weighed on refined soya oil prices at futures trade.
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