Last Updated : February 03, 2012 11:55
India soy oil to slump on weak spot demand
Edible oil prices might remain on weaker note taking cues from weaker domestic demand for oil prevailing in spot markets.
Buyers are waiting across spot markets anticipating seasonal imports of edible oils in months of in the first quarter which could further keep prices under pressure.
Edible oil imports data is due to release in next week which might show higher imports and port wise stocks.
Weakness in palm oil exports are weighing on prices which might result in higher stock piles for month of February in Malaysia as per data expectations from Malaysian palm oil board.
Courtesy: Karvy Comtrade Ltd.
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