Ref Soyaoil On NCDEX Settled Down By -0.4% At 714.85

Ref Soyaoil on NCDEX settled down by -0.4% at 714.85 on profit booking after prices gained on improvement in demand. Soy oil prices were up on improving demand as temperature has dropped in last couple of session. The consumers of palm oil are likely to shift to refined soy oil, as palm oil have tendency to freeze at lower temperature. The increase in tariff values is supporting the prices. The tariff value of crude soyoil was raised by $42 per tn to $912 which was the sixth increase in three month by the government.

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