By IANS
Ahmedabad : Soyabean oil extraction firms are laughing all the way to the bank with the export price of de-oiled cakes (DOC) soaring upwards by 60 percent in dollar terms in the last five months.
DOC is used in the US and Europe as cattle feed.
DOC is selling at Kandla port at $350 (about Rs.13,800) a tonne compared with $220 (about Rs.8,700) per tonne last year.
In addition, the edible oil market is also bullish. The average price of refined soyabean oil has risen sharply to Rs.49,000 per tonne from an average of Rs.44,000 per tonne last year.
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