Refined soya oil futures extend losses on muted demand

New Delhi, Continuing its losing streak for the fourth straight day, refined soya oil prices eased by 0.17 per cent to Rs 658.10 per 10 kg in futures trade today as participants engaged in reducing their positions, tracking a weak trend at spot market on subdued demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October month drifted lower by Rs 1.10, or 0.17 per cent to Rs 658.10 per 10 kg with an open interest of 57,740 lots.

Likewise, the oil for delivery in September contracts traded lower by Re 1, or 0.15 per cent to Rs 651 per 10 kg in
22,340 lots

Analysts said trimming of positions by traders due to subdued demand in the spot market against adequate stocks
position on higher supplies from producing regions mainly kept refined soya oil prices lower at futures trade.