EPIC RESEARCH NCDEX REFINED SOYA OIL UPDATE OF 05 MAY 2017

Ref.Soya oil trading range for the day is 612-624. Ref soyoil prices gained on short covering after prices recently dropped on higher tariff value and oversupply woes. India 2016-17 Soybean crop output increased to 10.575 million tons compared to 7.210 million tons during last year. As per SEA data, soy oil imports for March down more that 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m. At the Indore spot market in Madhya Pradesh, soyoil was steady at 618.95 Rupees per 10 kgs

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