02.01.2020 (Indiainfoline) - NCDEX Refined Soya Oil futures edged up marginally today amid firm demand trends in ready markets but the enthusiasm was curbed after a recent cut in import duties on overseas oil shipments fanned concerns about rising edible oil imports. The government has cut import duty on refined palmolein from 50% to 45%, while that on crude palm oil (CPO) from 40% to 37.5% with immediate effect following the surge in global Palm oil prices. The duty cut has been made under the ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA). This can increase in the import of refined palmolien, in turn keeping check on domestic oil prices. The NCDEX Refined Soya Oil futures for February are currently trading at Rs 943.40 per 10 kg, up 0.26% on the day after hitting a contract high of Rs 950 per 10 kg earlier this week. Near month futures slipped in red and currently trade down 0.11% at Rs 942.60 per 10 kg.