Refined soya oil prices dropped by 0.39 per cent to Rs 720.50 per 10 kg in futures market today as participants reduced their exposure, taking negative cues from spot market on muted demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January fell by Rs 2.85, or 0.39 per cent, to Rs 720.50 per 10 kg, with an open interest of 56,040 lots.
Similarly, the oil for delivery in December traded lower by Rs 2.45, or 0.34 per cent, to Rs 727 per 10 kg in 3,090 lots.
Analysts said offloading of positions by traders amid easing demand in the spot market against ample stocks position on increased supplies from growing regions, mainly led to the decline in refined soya oil prices at futures trade.
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