Ref Soyaoil On NCDEX Settled Up By 0.51% At 674.5

Ref.Soyaoil on NCDEX settled up by 0.51% at 674.5 on strong demand in spot demand and global market. Moreover, higher imports in current oil year may pressurize prices despite increase in tariff value by the government for the next fortnight. However, considering the supply tightness in Brazil EAR believes that large quantity of exports are not likely going forward and demand for US soybeans would remain upbeat. Oilmeal exports for September fell 35 per cent to 90,907 tonnes from 1,39,649 tonnes in the corresponding period last year.

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