Ref Soyaoil On NCDEX Settled Up By 0.53% At 651.2

Ref Soyaoil on NCDEX settled up by 0.53% at 651.2 on short covering after prices dropped amid higher supply in global market. However upside seen limited on demand worries as soybean crushing disparity were at Rs 600 per tons due to higher prices in last month which refrains buying activity by crushers. However, market participants expected demand in spot market to rise in coming days on account of holi festivals. India's agriculture department in second advance estimates pegged 2016-17 soybean crops at 14.125 million tons as compared to 8.570 million tons reported in the previous year

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