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Mid Session Commentary
Refined Soya Oil Around One Month Low
17-Jan-20   11:31 Hrs IST

NCDEX Refined Soya oil futures are trading on a flat note at Rs 889 per 10 kg after recent spurt. Traders are eyeing at the falling edible oil imports. Prices are consolidating around one month low. As per the latest release from the Solvent Extractor's Association of India (SEA), the import of vegetable oils during Oil Year 2019-20 (Nov.'19 to Dec.'19) i.e. edible oil and non-edible oil is reported at 22.5 lakh tons compared to 23.4 lakh tons for the same period of last year, down by 3.8%. Import of Vegetable Oils during December 2019 is reported at 11.28 lakh tons compared to 12.11 lakh tons for December 2018, recording a drop of 7%. This consists of 11.07 lakh tons of edible oils and 20901 tons of non-edible oils. The stock position of edible oils at various ports is estimated at 860000 tonnes. Pipeline stocks level fell to lowest level in four months at 515000 tonnes as on 1st January 2020.

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