Weak global cues of soy oil and crude oil keeps Indian market sentiments subdued in physical as well as futures markets.
Physical markets traders however opine that sooner or later prices are bound to improve with the start of summer in north India after Holi Festival.
They seems downside limited in India market.
Union Budget in India is also scheduled next week on 28th Feb.
Oilseeds industry in India is in favor of gradual increase in the import duty on the refined edible oil. This is to be seen what happens in Budget.
Thus market will remain more speculative and will follow less demand and supply fundamentals.
A cautious trade is advised amidst high volatility.
Physical markets traders however opine that sooner or later prices are bound to improve with the start of summer in north India after Holi Festival.
They seems downside limited in India market.
Union Budget in India is also scheduled next week on 28th Feb.
Oilseeds industry in India is in favor of gradual increase in the import duty on the refined edible oil. This is to be seen what happens in Budget.
Thus market will remain more speculative and will follow less demand and supply fundamentals.
A cautious trade is advised amidst high volatility.
NCDEX Soy oil April Contract
No comments:
Post a Comment