Refined soya oil futures extend losses on muted demand

Refined soya oil prices fell by 0.97 per cent to Rs 646.50 per 10 kg in futures market today as participants engaged in reducing their positions, triggered by easing demand at spot market.
Besides, sufficient stocks position on higher supplies from producing regions weighed on refined soya oil prices.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June declined by Rs 6.35, or 0.97 per cent to Rs 646,50 per 10 kg with an open interest of 1,23,400 lots.
On similar lines, the oil for delivery in May contracts traded lower by Rs 5.55, or 0.87 per cent, to Rs 631.60 per 10 kg in 1,300 lots.

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