Refined Soy Oil Futures Were Under Pressure Last Week

Refined soy oil futures were under pressure last week due to good supplies and steady demand. 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.

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