Refined Soy Oil July Delivery Futures Continue To Trade Higher

Refined soy oil July delivery futures continue to trade higher this week to close 0.75% higher on Thursday tracking strong US soy oil prices. There is an anticipation of good domestic demand of edible oil during the monsoon season.

Government increases the tariff value for crude soyoil for the second half of Jun by $1 to $812 per tonne.

As per SEA, Import of soy oils during May 2017 is reported at 3.40 lt compared to 1.78 lt in may 2016 – up by 91% however, the import volume is down by about 30% for the period from NovMay to 16.10 lt compared to 24.22 lt last year for same period.

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