Continuing its losing streak for the third day, refined soya oil prices fell further by 0.22 per cent to Rs 655.50 per 10 kg in futures trade today as traders engaged in reducing their positions, tracking a weak trend at spot market on sluggish demand.
In addition, sufficient stocks position on higher supplies from producing regions put pressure on refined soya oil.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July fell Rs 1.45 or 0.22 per cent to Rs 655.50 per 10 kg with an open interest of 1,02,020 lots.
Similarly, the oil for delivery in June contract shed 80 paise or 0.12 per cent to Rs 648.45 per 10 kg in 74,740 lots.
Marketmen said offloading of positions by participants on the back of muted demand in the spot market against ample stocks on higher supplies from producing belts, mainly kept refined soya oil prices lower at futures trade.
