Ref Soya oil On NCDEX Settled Down By -0.53% At 651.8

Ref Soyaoil on NCDEX settled down by -0.53% at 651.8 tracking weakness in spot demand on hope of higher supply. Prices of oil were under pressure on oversupply woes following reports of bumper soybean output this year. Oilmeal exports for September fell 35 per cent to 90,907 tonnes from 1,39,649 tonnes in the corresponding period last year. For the first half of the current financial year, cumulative shipments were down 44 per cent at 4,21,741 tonnes over the year-ago period on account of lower availability of seeds for crushing and continued disparity in prices in international markets, the Solvent Extractors Association of India said in a statement.

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