Ref Soyaoil On NCDEX Settled Down By -0.86% At 646.7

Ref.Soyaoil on NCDEX settled down by -0.86% at 646.7 on over supply following higher imports data. Prices of the oil were under pressure as USDA in its WASDE reported hiked 2016-17 soyoil inventories to 920,000 tons in June compared to 910,000 in May. Moreover, the department in its weekly sales reported stated that net sales for 2015/16 dropped 68% to 14,500 tons on week, indicating lack of demand in export market.

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