Refined Soy Oil Futures Closed Higher On Monday

Refined soy oil futures closed higher on Monday tracking spot price increase as government increase the base import prices for crude soyoil by 2.18 % to $845 per tonnes. This is the second increase in a month by the government. Since January 2016, the base import prices for crude soy oil increase by more than 17 % from $720 per tonnes. The most active Ref Soy oil Nov’16 expiry contract closed 2.16% higher last week. Government fixes the tariff value every fortnight.

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