Refined Soy Oil Futures

Refined soy oil futures trading range bound and closed lower on technical selling by the market participants. However, in physical market the prices have surged about 1% on good physical demand. 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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