Soy oil gets ranged in the spot market. Weakness in global markets continue to weigh on the domestic sentiment.
While rains hit regions in Madhya Pradesh, soy oil demand fails to catch up even at around 605 Rs. per 10 Kg (Indore). Unstable international markets led to fear of further drift in the prices, leading to skepticism on the same front.
Going forward Soy oil Imports may continue to surge higher in the immediate month facilitated by Import parity and higher spread by CPO Malaysia which reaches at $ 132.23 per MT (Average in June 2011 until date).