Refined soya oil futures extend losses on low demand

NEW DELHI, Apr 6: Refined soya oil prices fell further by 0.16 per cent to Rs 785.50 per 10 kg in futures market today as speculators engaged in reducing holdings amid ample stocks position on increased supplies from producing regions at the spot market against subdued demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May declined by Rs 1.25, or 0.16 per cent, to Rs 785.50 per 10 kg with an open interest of 36,760 lots.
Likewise, the oil for delivery in April weakened by 40 paise, or 0.05 per cent, to Rs 779.90 per 10 kg in 47,210 lots.
Analysts said, cutting down of positions by participants on the back of sufficient stocks position on increased arrivals from producing belts in the physical markets against weak demand, kept refined soya oil prices lower at futures trade. *(PTI)