Capital stroke NCDEX Update : REF SOYA OIL 19 MAY 2014

Refined soy oil June futures traded on a mixed note last week. Weak overseas soy oil prices, weak soybeans and a strong Rupee pressurized prices. However, lower level demand supported prices and settled 0.09% lower. CBOT Soy oil settled 1.04% lower on higher supplies.

According to NOPA, Soyoil stocks increased to 2.058 bn lbs from 2.023 bn in March and forecast of 1.990 bn lbs. (Source: Reuters)

India meet 50-55 percent of its edible consumption through imports and thus rupee factor is a major determinant of edible oil prices.

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