Refined Soy Oil Futures Closed Higher

Refined soy oil futures closed higher on Tuesday on tracking good physical demand. The most active Ref Soy oil Jan’17 expiry contract closed 0.69% higher to settle at Rs. 717.8/10kg. 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. The tariff value of soy oil has been increase by about 21.3% since mid july. Despite increase in tariff prices, the record oilseed production in country is weighing on the soy oil prices.

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