Soy oil prices gained on Saturday owing to increase in imports of palm oil from china.
Southern American crop concerns are still prevailing which is supportive for prices as showers might not help to combat yield losses.
Outlook:
Edible oil prices might remain on gaining note today owing to increasing demand across the globe.
Weather conditions over South America helped crop to recover while production deficit cannot be reduced as the rains were late after 10 weeks of drought.
In spot markets buying activities are limited as buyers are closely watching weather development over major growing regions.
Steep upside could be limited as Chinese buying might be absent in next four five days due to New Year holidays.
Courtesy: Karvy Commtrade Ltd.
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