Soy oil prices have gained drastically on Thursday on anticipation that soybean production estimates across the globe can be lower in supply demand report.
Spot prices remained stable at `665/10kg in Indore market. CBOT soy oil prices declined as most awaited supply demand report had no fresh triggers fro the market.
Outlook: Edible oil prices are might remain on weaker note today on back of unchanged crushing numbers estimated in yesterday’s supply demand report.
Edible oil imports data is due to release in this week which might show higher imports and port wise stocks. This might keep the prices under pressure.
Weaker palm oil exports survey data which showed palm oil exports from Malaysia dropped by 7.7% during first 10 days of the February might keep the prices under pressure.
Courtesy: Karvy Commtrade Ltd.
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