Ref Soyaoil On NCDEX Settled Up By 0.39% At 727.8

Ref Soyaoil on NCDEX settled up by 0.39% at 727.8 on demand hope in local mandis and on supply worries from Argentina. The prevailing supply concerns in Argentina due to weather uncertainty pushed up prices. National Oilseed Processors Association crushing probably rose to 163.558 million bushels from 157.711 million bushels a year earlier. Soybean-oil reserves probably fell 5.7% to 1.396b lbs from 1.481b a year earlier. In domestic market, India's vegetable oil imports during the first couple months of current marketing year Nov-Dec (2016-17) dropped 14% at 2.385 million tons against last year, according to the Solvent Extractors' Association of India (SEA).

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