Spot Market Update: Refined Soyaoil Slumps On Negative Global Cues

Poor global cues have supported selling in refined oil prices in local mandies. The spot prices decreased by Rs 0.20 kg today. The latest monthly report of United States Department of Agriculture (USDA) stated that after remaining flat since last year, domestic vegetable (edible) oil production is expected to rise 6.2 percent to 7.5 MMT in MY 2018/19 on a net rise in availability of oilseeds for crush-to-oil.