- The Indian government has increased import duties on crude and refined soybean oil. - This much-anticipated move has already raised soybean oil prices by ₹10 per kilo in the past two weeks. - Prices of soybean oil have already increased by 10-10% in the last two weeks, meaning that 50% of the impact of the duty increase has already been seen. - With the duty hike, Kandla soybean oil is expected to open next week with a rise of ₹10-12 per kilo. - After the duty increase, it will be important to monitor the prices of CBOT soybean oil and Argentine soybean oil. - Given the high prices of palm oil, there is a likelihood that importers will shift their demand to soybean oil. - Excessive rainfall has already posed a threat to soybean crops in India. - Due to delays in the arrival of the new crop and reduced supply of imported oils, a significant downturn in soybean oil prices is not expected. - However, the impact of the duty increase will be evident for the next 4-5 days, after which prices are likely to stabilize. - Since only 50% of the impact of the duty increase has been seen so far, some corrections might be observed after the gap opens next week. - With the festival season approaching, and given the crop damage and reduced oil imports, there is potential for an increase of ₹5-10 per kilo in soybean oil prices. - It is advisable to allow the market to stabilize for 2-4 days before making any purchases.