Refined soy oil futures closed higher on Wednesday tracking international prices. The expectation of increase in tariff values too supports prices at higher levels. The most active Ref Soy oil Dec’16 expiry contract closed 1.04% higher to settle at Rs. 722.4/10kg. The tariff value of crude soyoil was raised by $4 per tn to $876 which was the fifth increase in two and half month by the government. Moreover, anticipation of further increase in tariff value by government of India for 1st half of December too supports prices at higher levels.
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