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Edible oil prices slip after bumper crop

Edible oil prices slip after bumper crop

Thursday, April 20, 2017, 7:53 AM

Edible oil futures contracts have been on a slippery wicket over the past-three-months, tracking bearish global prices, a bumper domestic-crop and reduction in import-duty. A strengthening rupee has also aided the bearish trend, making imports cheaper. “If the bearish sentiments in oilseeds continues till-June, farmers will switch to other remunerative crops in the forthcoming kharif season,” BV Mehta, (Executive Director of the Solvent-Extractors’-Association) said.
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