Refined soya oil prices weakened by 0.34 per cent to Rs 723.75 per 10 kg in futures trade Thursday as speculators cut bets, triggered by adequate stocks position at spot market against easing demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December declined by Rs 2.50, or 0.34 per cent to Rs 723.75 per 10 kg with an open interest of 36,220 lots.
Similarly, the oil for delivery in January 2019 was trading lower by Rs 2.45, or 0.34 per cent to Rs 718.30 per 10 kg in 29,140 lots.
Analysts said trimming of positions by participants, driven by sufficient stocks position on increased supplies from growing regions in the physical market against tepid demand, led to the decline in refined soya oil prices in futures trade.
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