Refined Soy Oil Futures Closed Higher On Wednesday



Refined soy oil futures closed higher on Wednesday and continue to trade positive this week driven by good physical demand and increase in the tariff value for May. Government increases the tariff value for crude soyoil for the second half of May by $13 to $793 per tonnes. Imports of soyoil is lower this oil year starting last November According to SEA, during Nov.’16 – Apr.’17, import of soy oil has been lower to 13.50 lt from 22.44 lt in the same period of last year. Moreover, Import of soy oils during April 2017 is reported at 3.04 lt compared to 3.50 lt in April 2016 - down by 12.4% however, the imports increase 32% m-o-m

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