Mumbai, Feb. 11 -- Global Soybean oil futures are flaring up on hopes of elevated demand from India. Under the just concluded trade deal framework, India agreed to cut or eliminate import duties on a slew of US agricultural products. This includes soybean oil and this news boosted the already prevalent bullish sentiment for the counter. The US soybean oil futures rose around 2% to hit six month high. The counter has zoomed around 6.80% this month following a near 10% spike in last month. FAO has recently noted that world soyoil prices have been supported on tightening export availabilities in South America and expectations of robust demand from biofuel sector in the US.
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