Continuing its losing streak for the fifth straight day, refined soya oil prices declined by 0.14 per cent to Rs 667 per 10 kg in futures trading today as traders engaged in trimming their positions, taking negative cues from spot market on muted demand.
Besides, adequate stocks position on pick up in supplies from producing regions put pressure on refined soya prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by 95 paise, or 0.14 per cent to Rs 667 per 10 kg with an open interest of 49,580 lots.
In a similar manner, the oil for delivery in September contracts shed 40 paise, or 0.06 per cent, to Rs 660 per 10 kg in 65,630 lots.
Analysts said offloading positions by participants owing to low demand in the spot market against sufficient stocks position on increased supplies from producing belts, mainly kept refined soya oil prices lower at futures trade.
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