Refined soya oil prices drifted lower by 0.46 per cent to Rs 774.25 per 10 kg in futures trade today as speculators reduced positions, triggered by ample stocks position at spot market against easing demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April declined by Rs 3.55, or 0.46 per cent, to Rs 774.25 per 10 kg with an open interest of 61,170 lots.
Similarly, the oil for delivery in May contracts shed Rs 3.30, or 0.42 per cent, to Rs 781.80 per 10 kg in 29,930 lots.
Analysts said trimming of positions by participants on the back of adequate stocks position on increased arrivals from producing belts in the physical market against tepid demand kept refined soya oil prices lower in futures trade.
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