Ref.Soya Oil On NCDEX Settled Down -0.75% At 632.85

Ref.Soya oil on NCDEX settled down -0.75% at 632.85 on limited demand at higher prices and weakness in rival palm oil prices. With southwest monsoon advancing into major soybean growing regions, sowing progress in these areas is likely to have pressure on soyoil prices too. Indian soybean meal after soybean oilmeal exports slumped 27.35% to 2,098 tons in June compared to 2,098 tons for the corresponding period a year earlier, data released from Solvent Extractors Association of India (SEA) showed. Oilmeal exports from India nosedived 61 per cent in the period between April and June this year on account of lower availability of oilseeds for crushing and continuous disparity in exporting meals in the international market.

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