Ref Soya Oil On NCDEX Settled Down -0.19% At 715.95

Ref Soya oil on NCDEX settled down -0.19% at 715.95 due to weakness in spot demand. Pressure seen on prices higher level due to higher production in Argentina. As per Argentina's agro industry ministry soyoil production was 8 million tons compared with 7.4 million tons in same period last year. For the first fortnight of January, the tariff value of crude soyoil was reduced by $20 per tonnes to $892 which is the first reduction in three months by the government. As per SEA data, India import of soybean oil declined to 1,64,286 tonnes in Nov from 2,56,836 tonnes in the year-ago period.

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