Refined Soy Oil Futures Recovered

Refined soy oil futures recovered on Wednesday as country's total vegetable oil imports fell by 12% to 11.75 lakh tonnes in November 2016, from 13.37 lakh tonnes in the year-earlier period. The most active Ref Soy oil Jan’17 expiry contract closed 0.64% lower to settle at Rs. 724.0/10kg. As per SEA data, India import of soybean oil declined to 1,64,286 tonnes in November from 2,56,836 tonnes in the year-ago period while, India’s 2015/16 crude soyoil import 4.23 mt vs 2.99 mt – an increase of 41% y/y for the current oil year (Nov-Oct).

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