Refined Soy Oil Futures Closed

Refined soy oil futures closed flat after surging in the previous session due to profit taking. However, on anticipation of good physical demand and improved soybean prices in the domestic market the prices have been on uptrend. 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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