Refined soya oil futures extend slide on adequate stocks

Falling for the second straight day, refined soya oil prices fell further by 0.65 per cent to Rs 714.40 per 10 kg in futures trade today as participants engaged in reducing their positions, triggered by ample stocks at spot market against subdued demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February declined by Rs 4.65, or 0.65 per cent, to Rs 714.40 per 10 kg, with an open interest of 25,240 lots.
On similar lines, the oil for delivery in January traded lower by Rs 3.05, or 0.42 per cent, to Rs 716.40 per 10 kg in 53,600 lots.

Analysts said reducing of their positions amid sufficient stocks position in the physical market against sluggish demand, mainly kept pressure on refined soya oil prices at futures trade.