Refined soya oil futures extend losses, down 0.31%

Refined soya oil remained weak for the second day and prices shed another 0.31 per cent to Rs 668.65 per 10 kg in futures market today as participants reduced their exposure on the back of sluggish demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions fuelled the downtrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November month declined by Rs 2.10, or 0.31 per cent, to Rs 668.65 per 10 kg with an open interest of 61,940 lots.
Similarly, the oil for delivery in October contracts traded lower by 95 paise, or 0.14 per cent to Rs 657.80 per 10 kg in 1230 lots.

Market analysts said offloading of positions by traders due to muted demand in the spot market against ample stocks position on increased supplies from producing regions, mainly kept refined soya oil prices lower at futures trade.