Spot Market Update: Refined Oil Eases On Weak Global Cues

Fragile cues in international market has kept a lid on soya oil prices today. The spot prices decreased by Rs 0.20 kg today. As per latest United States Department of Agriculture (USDA), the total global 2018/19 oilseed production is down 1.4 million tons to 592.6 million with a 4.3-million-ton increase for soybean production offset by lower rapeseed and sunflower. Rapeseed production is reduced 2.6 million tons with lower production for the EU, Australia, Ukraine, and Russia.