EPIC RESEARCH NCDEX REFINED SOYA OIL UPDATE OF 03 JULY 2017

Ref.Soya oil trading range for the day is 632-652. Ref soyoil dropped on ample supplies due to increase in cheap edible oil imports coupled with weak international prices. 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%. As per the government weekly sowing data, area under soybean crop across the country for the 2017-18 kharif was at 45,500 hectares till now. At the Indore spot market in Madhya Pradesh, soyoil was steady at 629.65 Rupees per 10 kgs.

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