Ref Soyaoil On NCDEX Settled Up By 0.32% At 614.55

Ref Soyaoil on NCDEX settled up by 0.32% at 614.55 on short covering after prices dropped amid higher supply in global market. The prices have been trading in a range since one month on good supplies. As per SEA data, soy oil imports for March down more that 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m. Meanwhile, government lowered base import price for the fifth consecutive fortnight for crude soyoil by $14 to $770 per tonnes for second half of April. A monthly report showed that U.S. processors crushed fewer soybeans than expected during March. The National Oilseed Processors Association said its members crushed 153.060 million bushels during March, up from 142.792 million bushels in February. But a year ago, the March crush totalled 156.690 million bushels. India's edible oil imports fell a little over 7% on year to 1.10 mln tn in March, according to data from Solvent Extractors' Association of India.

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