Refined soya oil futures extend losses on low demand

Refined soya oil prices drifted further by 1.15 per cent to Rs 636.20 per 10 kg in futures trading today as participants engaged in trimming positions, tracking a weak trend at spot market on easing demand.

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

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August fell by Rs 7.40, or 1.15 per cent, to Rs 636.20 per 10 kg with an open interest of 17,920 lots.

Similarly, the oil for delivery in July shed Rs 4.20, or 0.66 per cent, to Rs 631.10 per 10 kg in 7,400 lots.
 

Analysts said offloading of positions by traders, taking negative cues from spot market on fall in demand against ample stocks position on increased supplies from producing belts mainly kept refined soya oil prices lower at futures trade.