Refined Soy Oil Futures Fell Yesterday

Refined soy oil futures fell yesterday due to correction on chart based trading. However, steady physical demand from stockists amid increase retail demand ahead of festival season. Ref Soy oil Jun’16 expiry closed 1.34 % down to settle at Rs. 655.5/ 10 kg on weekly basis.

As per latest SEA data, during Nov-Mar period of the current 2015- 16 oil year, the import of vegetable oils (comprising edible and nonedible oils) increased by 17.86% to 63.15 lt as compared to 53.58 lt in the corresponding period of the previous year. Moreover, Import of soyoil during Mar 2016 is reported at 3.21 lt compared to 3.80 lt in Feb 2016.

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