Vegoil prices firm up after attack on US

Aarti Shetty

Mumbai, Sept 12: Tuesday's terrorist attack on the US saw edible oils firming up on Wednesday by around 2-4 per cent. However, traders expect vegoil prices to stabilise during the next few days. For the past few months, vegoil prices have more or less remained sluggish.

Even as the vegoil trade here awaits further developments and response of the US authorities, there are fears of imports getting costlier further with rupee weakening against the US dollar.
Industry sources predict that the price increase is a temporary phase and will pass. Only if the US retaliates by stopping exports of soya will oil price get impacted, they say.