Spot Market Update: Refined Soyaoil Down On Poor Cushing Demand

Poor Crushing demand have supported selling in refined oil prices in local mandies. The spot prices decreased by Rs 0.20 kg today. As per the latest release from Solvent Extractors Association of India, the import of vegetable oils during February 2018 is reported at 1,157,044 tons compared to 1,270,443 tons in February 2017, consisting 1,124,999 tons of edible oils and 32,045 tons of non-edible oils i.e. down by 9%. The overall import of vegetable oils during November 2017 to February 2018 is reported at 4,785,778 tons compared to 4,684,451 tons i.e. Up by 2%.