Spot Market Update: Refined Soya Oil Down At Indore Mandi

Poor cues from international market have led to a correction in Refined Soya oil prices in local mandies. The spot prices decreased by 0.10% in Indore today. A latest update from United States Department of Agriculture (USDA) states that the global oilseeds production is projected up 20.9 million tons to 593.7 million, with higher soybean, sunflower, rapeseed, palm kernel, and copra partly offset by lower peanuts and cottonseed. Global soybean production is projected up 17.8 million tons to 354.5 million mostly due to recovery from drought in Argentina.