Refined soya oil prices drifted lower by 0.48 per cent to Rs 749.20 per 10 kg in futures market today as speculators engaged in reducing their holdings, triggered by adequate stocks position at spot market on increased supplies.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell by Rs 3.65, or 0.48 per cent to Rs 749.20 per 10 kg with an open interest of 45,370 lots.
On similar lines, the oil for delivery in June was trading lower by Rs 2.30, or 0.31 per cent to Rs 738 per 10 kg in 35,530 lots.
Analysts said trimming of positions by participants on the back of sufficient stocks position on increased arrivals from producing regions in the physical market against lower demand, mainly kept refined soya oil prices down at futures trade.
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