Ref soyoil prices dropped due to reports of higher imports of edible oil continues for the month of February keeping sufficient stocks with the stockists.
The Ministry has earlier proposed increase in import duty on crude edible oils to 17.5 % and on refined edible oils to 25% from the existing level.
India's export of oilmeals during January 2016 is reported ever lowest at 17,243 tons, down 91% as compared to 185,654 tons in the same month of previous year.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 610.35 rupees per 10 kgs.
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