Refined Soy Oil Futures Falls On Profit

Refined soy oil futures falls on profit booking at higher levels tracking rival CPO prices. However, reports of considering increase of edible oil import duty hike by the Government support prices. Ref Soy oil Sep’16 expiry closed 0.25% lower to settle at Rs. 669.1/10 kg. Currently, the trend is sideways to positive as government has also raises the tariff value of crude soy oil for first half of August. Government has raised the tariff value for Crude Soy Oil to 775$ /tonne for second half of August against 771$ earlier. Government fixes the tariff value every fortnight. Firm international prices for edible oil supporting recent rally.

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