* India November Vegoil Imports 753,966 Tons Vs 555,342 Tons
* India November CPO Imports 450,252 Tons Vs 363,578 Tons
* India November Soyoil Imports 78,000 Tons; No Imports Last November
* India November RBD Palm Olein Imports 112,604 Tons Vs 137,959 Tons
India's vegetable oil imports during the first month of the marketing year that began Nov. 1 jumped 36% from a year earlier to 753,966 metric tons, with sharp increases in shipments of crude palm oil, soyoil and sunflower oil, the Solvent Extractors' Association of India said Monday. Total edible oil imports in November were at 712,677 tons, up from 519,032 tons a year earlier, it said in a statement. Vegetable oil imports soared in the 2008-09 marketing year that ended in October to a record high of 8.66 million tons, attracted by low import duties to make up for a shortfall in local production and keep local prices in check. India imported 450,252 tons of crude palm oil in November, compared with 363,578 tons a year earlier, the trade body said. However, imports of refined, bleached and deodorized palm olein fell to 112,604 tons from 137,959 tons. Soyoil imports during the month were at 78,000 tons, up from zero, and sunflower oil imports jumped to 55,688 tons from 8,000 tons. Imports of non-edible oil rose 13.7% to 41,289 tons. India imports around half of its annual vegetable oil requirements of about 15 million tons. Shipments are mostly from Argentina, Brazil, Malaysia and Indonesia.
NEWS IMPACT
We will see some pressure on Soya oil. in short term. Downside can be happen 5-10 rupee.
STRATEGY
Go short on higher level in Dec&Jan Futrue.
DEC Fut CMP 488 TGT 476 SL 492
JAN Fut CMP 492 TGT 481 SL 500
Trading Tips: Use STOP LOSS and CUT LOSSES FAST. Avoid average to loss. Visit :http://www.mrinumarket.blogspot.com/regularly Email: manishmrinutradingtips@gmail.com
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