Ref Soya Oil On NCDEX Settled Down -0.86% At 664.75

Ref Soya oil on NCDEX settled down -0.86% at 664.75 on oversupply woes in local market. Further higher oilseed production has raised prospects of better oil production in the country has also hurt demand. India's 2016-17 soybean crop rose significantly at 11.4 million tons followed by great prospects for rabi mustard seed. India's vegetable oil imports have declined by 19 per cent to 1.02 million tonnes for the month of January 2017 as against 1.24 tonnes in the corresponding month last year.

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