Refined Soy Oil Futures Closed Lower

Refined soy oil futures closed lower on Monday due to lower physical demand and taking clues from world edible oil market. The most active Ref Soy oil Sep’16 expiry contract closed 1.05% lower to settle at Rs. 639.3/10 kg. Currently, the trend has reversed to sideways to down on corrections from higher levels. Earlier, government has raises the tariff value of crude soy oil for first half of August for Crude Soy Oil to 775$ /tonne for second half of August against 771$ earlier. Government fixes the tariff value every fortnight.

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