Refined Soy Oil Futures Closed Lower On Tuesday



Refined soy oil futures closed lower on Tuesday tracking international prices. Moreover, cut in import tariff also pressurize the futures price. Domestic edible oil in 2016/17 is forecast to produce 72.8 lt, up 25.5% compared to last year’s production of 58 lt. The government has cut the base import price of soyoil by $33 per tonnes for first half of March, steepest cut among other edible oils. The base import price of crude soyoil is now at $814.

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