Ref Soyaoil On NCDEX Settled Down By -0.1% At 723.35

Ref Soyaoil on NCDEX settled down by -0.1% at 723.35 on profit booking after prices gained earlier tracking firmness in spot demand due to lower stockpiles. According to Solvent Extractors Association (SEA) of India, import of soy oil has dropped 36% in November against same month last year, due to demonetisation. India imported 164,000 ton of soy oil in November 2016 as against 256,000 tons in November 2015. Soyoil stock at various ports of the country totalled 180,000 tons on December 1, against 325,000 tons on November 1. Meanwhile premium between soyoil and sunflower oil have risen to $55 percent tone on December 14 from $24 per tone earlier on November 1

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