At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November fell by Rs 2.80, or 0.40 per cent, to Rs 694 per 10 kg with an open interest of 15,500 lots.
Similarly, the oil for delivery in December shed Rs 1.55, or 0.22 per cent to Rs 715.40 per 10 kg in 50,440 lots.
Market analysts said offloading of positions by participants owing to tepid demand in the physical market against ample stocks position on increased supplies from producing belts, mainly led to the decline in refined soya oil prices at the futures trade.
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