Global cues drag soy complex

Weak global cues, physical demand and the proposed reduction in Customs duty on palm oil from December had a bearing on majority of oils in the Indore mandis with palm oil declining to 715 for 10 kg. While soy refined ruled at 760-62 and soy solvent at 722-25, cotton oil (Gujarat) quoted at 715. Groundnut oil, on the other hand, gained 80 in the past one week with demand outstripping availability. On Thursday, groundnut oil in the Indore mandis rose to 980-1,000 for 10 kg.