EPIC RESEARCH NCDEX REFSOYAOIL UPDATE OF 3 Nov 2016

Ref.Soya oil trading range for the day is 653-683. Ref soyoil gains on late short covering after prices seen under pressure on oversupply woes in global market. India hikes tariff value of soyoil to $853 per tons compared to $845 per tons earlier. India 2016-17 edible production may rise 20% on favourable weather condition this year. At the Indore spot market in Madhya Pradesh, soyoil was steady at 667.25 rupees per 10 kgs.
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