Refined soya oil prices were down 1.27 per cent to Rs 588.70 per 10 kg in futures trading today as speculators reduced holdings, driven by low demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December fell by Rs 7.55, or 1.27 per cent to Rs 588.70 per 10 kg with an open interest of 85,755 lots.
Likewise, the oil for delivery in November contracts traded lower by Rs 6.45, or 1.09 per cent to Rs 584.50 per 10 kg in 41,095 lots.
Analysts said offloading of positions by speculators, driven by low demand in the spot market against adequate stocks position, put pressure on refined soya oil prices at futures trade.
