Monday, April 11, 2011
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Soy oil may rise on strong demand
Soya refined oil shown range bound due to profit booking and also higher demand support. Demand in the physical markets is gradually improving.
As per the latest release from Solvent Extractors' Association of India , the export of oil meals during March 2011 is reported at 5.79 lakh tonnes compared to 2.24 lakh tonnes in previous month (March.,2010), up by 158%.
The total daily arrivals of soya bean were reported in the range of 35000‐45000 bags daily in the major mandies of Madhya Pradesh and Maharashtra.
SELL NCDEX SOYAOIL (MAY) BELOW 631.15 SL 639 TGT 621
R1 643 R2 648 S1 622 S2 615.
Courtesy: Anagram Comtrade Limited
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