Soy oil likely to gain 3 % by next week in Indian Futures Market

• Indian soy oil market trades firm on fresh buying support in the Indian Futures Market (NCDEX).

• Demand in the physical market improves due to ongoing “Ramzan” month.

• Further sowing of soybean is also delayed by around 15 days in India thus the new crop arrival will start during October month.

• It is expected that the soy oil prices may increase by more than 3 % during next week.

• NCDEX Soy oil August contract may reach at the level of Rs. 701 per 10 kg by next week. [Current level is 679 at 20.00 IST]