Ref.Soya oil on NCDEX settled down -0.55% at 622.85 tracking weakness in spot demand on oversupply woes. Import of soybean oil for May is in parity of Rs 30-32 per 10 kilogram, indicating higher supply situation in near term. The mills have procured large volumes of soybean earlier in the season at lower levels which helps in more competitive prices of meals for record exports.

Trading Ideas: 

* Ref.Soya oil trading range for the day is 611-631. 

* Ref soyoil prices ended with losses tracking weakness in spot demand on oversupply woes. 

* Import of soybean oil for May is in parity of Rs 30-32 per 10 kilogram, indicating higher supply situation in near term. 

* The supplies have been decreased drastically last week compared to previous week so as the demand. 

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 640 Rupees per 10 kgs.

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