Refined Soy Oil Aug Futures Close Closed Higher On Friday

Refined Soy Oil Aug futures close closed higher on Friday on reports of hike in tariff duty by government. However, it closed the week little down on higher stock positions in the country. The prices have increase in recent weeks on anticipation of good domestic demand of edible oil during the monsoon season.

The base import price of crude soyoil has been hike by $9 to $812 per tonne for the second half of July. Base import prices of edible oils are revised every fortnight, based on global prices and changes in foreign exchange rate. The prices were last revised on Jun 15.

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