On the very first day of the week starting 21 july, the edible oil complex (soyoil, soybean, mustard seed) trades firm in Indian futures and physical market ignoring the CBOT soy complex trend.
As written last week, the edible oil demand improves in India it is expected to remain firm in medium term thus keeping prices in upward trend for soy oil.
Recent good spell of monsoon rains in vast part of the country has improved market sentiments. Thus buyers have become active.
We expect soy oil prices to cross 700 level during this week in the Indian futures market. [current price is 685 at 14.56 IST].
As written last week, the edible oil demand improves in India it is expected to remain firm in medium term thus keeping prices in upward trend for soy oil.
Recent good spell of monsoon rains in vast part of the country has improved market sentiments. Thus buyers have become active.
We expect soy oil prices to cross 700 level during this week in the Indian futures market. [current price is 685 at 14.56 IST].
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