Spot Market Update: Refined Soyaoil Slumps On Weak Crushing Demand

Fragile crushing demand have supported selling in refined oil prices in local mandies. The spot prices decreased by Rs 0.40 kg today. As per the latest release from Solvent Extractors Association of India, import of vegetable oils during March 2018 is reported at 1,146,051 tons compared to 1,114,325 tons in March 2017, consisting 1,122,685 tons of edible oils and 23,366 tons of non-edible oils i.e. up by 3%. The overall import of vegetable oils during November 2017 to March 2018 is reported at 5,931,829 tons compared to 5,798,776 tons i.e. Up by 2%.