Refined futures extend losses, down 0.45 pc on weak spot cues

Refined soya oil prices declined further by 0.45 per cent to Rs 724.65 per 10 kg in futures trading today as speculators engaged in trimming positions, tracking a weak trend at spot market on easing demand.
Besides, adequate stocks position on increased arrivals from producing regions, fulled the downtrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January declined by Rs 3.30, or 0.45 per cent, to Rs 724.65 per 10 kg with an open interest of 42,560 lots.
Similarly, the oil for delivery in February was trading lower by Rs 2.80, or 0.38 per cent, to Rs 731.80 per 10 kg in 35,380 lots.

Market analysts said offloading of positions by traders on the back of subdued demand in the physical market against sufficient stocks position, mainly kept refined soya oil prices down at the futures trade.