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NCDEX Refined Soy oil Prices Make historical high, traded above 960

21 Oct 2020 8:37 pm
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Mumbai (Commodities Control) – NCDEX Ref Soy oil futures continued its upward rally today, braking above all time level of 953 during today’s trade as anticipated earlier.

Prices have gained momentum with support from overseas CBOT soy oil counters and palm oil prices.

Depleting stocks of soy oil in Argentina and palm oil at Malaysia has led to tightness in overall supply.

Going forward, NCDEX Ref soy oil futures will likely retain higher levels ahead of festive demand. Prices are likely to trade towards 950/70 in coming session.

(Commodities Control Bureau)

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