Ref soyoil dropped on profit booking after prices gained amid higher import tax and removal of stock limit which prompted buying.
Government has removed stock limit on edible oils which may spark fresh buying at from stockiest and retailers.
Government increased import duty on soy oil from 35% to 45%. India's vegetable oil imports declined 7% on year to 1.3 mln tn in May
At the Indore spot market in Madhya Pradesh, soyoil was steady at 750 Rupees per 10 kgs.
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