Refined soya oil futures extend losses, down 0.64 pc

Extending losses for the third straight day, refined soya oil prices fell further by 0.64 per cent to Rs 601.50 per 10 kg in futures trading today, tracking weak demand in the spot markets against increased supplies from producing belts.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month January next year eased by Rs 3.85, or 0.64 per cent to Rs 601.50 per 10 kg with an open interest of 64,620 lots.
Similarly, the oil for delivery in December contract shed Rs 2.90, or 0.49 per cent to Rs 591.50 per 10 kg in 71,755 lots.

Analysts said offloading of positions by traders, driven by sluggish demand in the spot market mainly influenced refined soya oil prices at futures trade.