Refined Soy Oil Futures Continue



Refined soy oil futures 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. There is still good domestic supplies due to cheap imports and high domestic crushing. According to SEA, 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. Moreover, 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.

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