Ref.Soya oil trading range for the day is 698-710. Ref soyoil dropped on profit booking after prices gained on reports that government is seriously considering increase in import duty of edible oil. SEA has once again requested the Centre to increase the import duty on edible oils, due to lower oilseed prices and financial loss to farmers. Chinese imports of oilseeds are forecast to grow to a record 99.8 million tonnes in 2017/18, up 1.3 million tonnes from the prior season. At the Indore spot market in Madhya Pradesh, soyoil was steady at 686.8 Rupees per 10 kgs.
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