Refined soya oil futures add losses, hurt by low demand

NEW DELHI: Continuing its falling trend for the fourth straight day, refined soya oil drifted further by 0.28 per cent to Rs 639.60 per 10 kg in futures trading today as participants engaged in trimming their positions, driven by tepid demand in the spot market.

Besides, adequate stocks position on higher supplies from producing regions weighed on prices.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September fell Rs 1.80, or 0.28 per cent to Rs 639.60 per 10 kg with an open interest of 11,380 lots.

On similar lines, the oil for delivery in October shed Rs 1.25, or 0.19 per cent to Rs 645.60 per 10 kg in 60,190 lots.

Analysts said offloading of positions by traders on the back of sluggish demand in the spot market against ample stocks position, mainly kept refined soya oil prices lower at futures trade.