India cancels import of over 100 thsd tons of soybean oil

domestic soybean oil supply and the rupee’s depreciation have caused a significant drop in demand and strong downward pressure on spot prices for soybean oil in China. On the futures market, the main May 2605 contract closed at 7,712 yuan per ton, down 94 points, with a trading volume of 340,002 lots and an increase of 11,645 lots in open positions, indicating growing bearish sentiment. Analysts note that these developments could further deepen the downward trend in soybean oil futures prices. For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp. It is a multi-functional online platform with market intelligence ...