Refined Soy Oil futures closed higher on Monday due to increase in spot prices of soyoil and tariff values by the government. The most active Ref Soy oil Dec’16 expiry contract closed 0.87% higher to settle at Rs. 736.8/10kg. The tariff value of Crude Soyoil was raised by $4 per tn to $876 which was the fifth increase in two and half month by the government. The tariff value of soy oil has been increase by about 6.5% since 15-Sep-16. As per SEA data, India October Crude Soyoil Import 277,878 tonnes, lower by 31 % compared to 405,186 tonnes year ago while, India’s 2015/16 crude soyoil import 4.23 mt vs 2.99 mt – an increase of 41% y/y for the current oil year (Nov-Oct).

For MCX Tips NCDEX Tips ✆ – 0731-6642300