Ref.Soyaoil On NCDEX Settled Down By -0.52% At 643.35

Ref.Soyaoil on NCDEX settled down by -0.52% at 643.35 on reports of sufficient supplies in the physical market as edible oil imports into the country decline last month. 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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