Friday, 2 December 2011

Soy Oil Declines on Fresh Selling

NCDEX News: Refined Soy oil futures fell Thursday on fresh selling by the traders on rising supply in the markets. At NCDEX, soya oil December contract closed at Rs.628 / 10 MT, which is lower by 1.04 in comparison of previous close.

In the beginning, the contract traded at a variable range of Rs.638.40 to 627.80 / MT. As in India, oil availability is better; other oilseeds crops are also fulfilling the demand in market. Some of the major oil improving the availability in Indian markets like namely rice bran oils, cotton oil seeds etc.

Total import of edible oil during current session is declined by 5.12 % as compared to last year. On monthly basis also imports marginally declined.

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