RTRS:Indian soyoil hits record high on global cues, weak rupee
Aug 27 (Reuters) - India's benchmark October soyoil futures extended gains on Monday to hit a record high of 820.9 rupees ($14.76) per 10 kg, following gains in the world market due to a drought in the United States and as a drop in rupee made imports expensive.
Chicago Board Of Trade November soybeans hit a record of $17.60-1/2 a bushel on Monday after farm newsletter Pro Farmer estimated drought-stricken U.S. soybean production would be worse than forecast by the U.S. Department of Agriculture.
India fulfils nearly half of its edible oil requirement through imports. A price rise in edible oils can stoke food inflation, which is already in double digits.
