Ref Soyaoil On NCDEX Settled Up By 0.9% At 643.1

Ref.Soyaoil on NCDEX settled up by 0.9% at 643.1 taking cues from edible oil complexes on robust demand in domestic market ahead of festive season and on supply worries from world's biggest supply of oil. India edible oil imports jumped 14% in June on lower prices of edible complex in global market, data release from the Solvent Extractors Association (SEA) of India showed. Due to higher imports the domestic refining industry is facing severe crisis of under utilization of capacity and is on the verge of closure and justify increasing in duty difference between crude and refined vegetable oils from 7.5% to 15.

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