MUMBAI (Commodity Online): Soy oil prices remains volatile and trades in both directions for the last few days. Firm spot demand and positive outlook of the US soybean and soy oil has helped Indian prices to sustain on higher levels.
However current levels feel resistance due to profit booking. International market remains positive in soy oil and CPO. In a conference held at Indore, India oilseeds industry experts opined that prices may remain positive for some more time due to delay in the US soybean harvesting process, improved sentiments in the international crude oil prices and good demand at the domestic market.
Trading platform that even a 5 year old can trade. Join now For the year 2008-09 the Industry estimated the availability of imported oil may remain near 82 lakh tons. Soy oil prices are expected to trade positive for few more days due to improved domestic demand and support from the international market. On Wednesday prices are expected to trade positive.
Courtesy: Religare Commodities
