Refined Soy Oil Futures Closed Higher On Monday

Refined soy oil futures closed higher on Monday tracking International edible oil prices. Ref Soy oil Sep’16 expiry closed 0.34% higher to settle at Rs. 640.9/ 10 kg. Currently, the trend is sideways to positive as government raises the tariff value of crude soy oil for first half of August. Firm international market for edible oil also supported the recent rally. Government has raised the tariff value for Crude Soy Oil to 765$ /tonne for first half of August against 752$ earlier. Government fixes the tariff value every fortnight.

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