Continuing its falling streak, refined soya oil prices drifted further down by 0.22 per cent to Rs 785.50 per 10 kg in futures trade today as speculators engaged in reducing their positions, tracking a weak trend at spot market on muted demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April declined by Rs 1.70, or 0.22 per cent to Rs 785.50 per 10 kg with an open interest of 64,280 lots.
In a similar fashion, the oil for delivery in May shed 55 paise, or 0.07 per cent to Rs 791.85 per 10 kg in 29,480 lots.
Analysts said cutting down of positions by participants owing to slackened demand in the physical market against ample stocks position on increased arrivals from producing belts, kept refined soya oil prices lower at futures trade.
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