Ref Soyaoil On NCDEX Settled Up By 0.56% At 719.85

Ref Soyaoil on NCDEX settled up by 0.56% at 719.85 tracking firmness in spot demand after prices dropped on expectation of higher supply from 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. Further to it, price gap within oil complex has narrowed due to which demand for edible oil is equally divided. There is uncertainity about Argentina soybean crop due to which volatility is rising, due to which market participants are avoiding any big commitments in oil complex.

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