Soyoil trading range for the day is 665.3 - 677.3. Ref soyoil rose amid firmness in spot demand and due to recovery in soyabean prices despite of hope of higher output from United States and Brazil. Due to lower oilseed prices and the subsequent financial loss to farmers, SEA has once again requested the Centre to increase the import duty on edible oils.

Currently, the prices have been trading at one month higher due to weak rupee and lower imports of soy oil during the current oil year. According to data release by SEA, crude soy oil imports down about 24% on year in September compared to last year.

BUY SOYOIL @ 674 SL 666 TGT 682-688. NCDEX.

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