Refined soy oil June futures traded on a negative note on Monday tracking weak soybean prices and a strong Rupee and settled 1.34% lower. Weak overseas soy oil prices also added to the downside pressure. CBOT Soy oil settled 0.81% lower on higher supplies due to increased crushing for soy meal leading to a supply glut situation.
As per the data released by the Solvent Extractors' Association of India Imports of vegetable oils, including non-edible oils in April declined 27.17% y-o-y to 832,760 tn.
Crude Soy oil imports in April ’14 rose 121% to 113,000 tn compared to 50,999 tn last year. Stockpiles of edible oil at ports on May 1 stood at 465,000 tn, the trade body said, lower than 490,000 tn on April 1.Visit Here
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