Refined soya oil prices drifted lower by 0.28 per cent to Rs 776.50 per 10 kg in futures trade today as speculators cut bets, taking negative cues from the spot market on easing demand.
Besides, adequate stocks position too weighed on prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March declined by Rs 2.20, or 0.28 per cent, to Rs 776.50 per 10 kg with an open interest of 13,940 lots.
Similarly, the oil for delivery in April contracts shed 75 paise, or 0.09 per cent, to Rs 789.30 per 10 kg in 57,190 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical market against ample stocks position kept refined soya oil prices down in futures trade.
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