Refined soya oil futures add more losses on low demand

Refined soya oil prices drifted further down by 0.13 per cent to Rs 745 per 10 kg in futures trade today as speculators cut bets, taking negative cues from spot market on tepid demand.

Besides, adequate stocks position on increased supplies from growing regions, too weighed on prices.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell by Re 1, or 0.13 per cent, to Rs 745 per kg in a business turnover of 6,600 lots.

Similarly, the oil for delivery in August contracts shed 85 paise, or 0.11 per cent, to Rs 747.20 per kg in 54,710 lots.

Analysts said cutting down of positions by participants owing to slackened demand in the physical markets, kept refined soya oil prices down in futures trade.