Indian sugar futures rebounded on Friday on market talk the government will give mills flexibility in selling sugar in the open market by releasing the quota for four months instead of one. The key December contract on India's National Commodity and Derivatives Exchange ended up 0.89 percent at 3,299 rupees per 100 kg. Sugar eased by 8 rupees to 3,442 rupees per 100 kg at the Kolhapur spot market in top-producing Maharashtra state.
Indian chana futures snapped a four-day falling streak on short-covering with a little improvement in the spot market supporting the upside, though prospects of a greater area under cultivation limited the upside. The most-active chana for December delivery on the NCDE ended up 0.71 percent at 4,269 rupees per 100 kg In the New Delhi spot market, chana rose by 15 rupees to 4,415 rupees per 100 kg.
Indian jeera futures fell as an increase in domestic supplies and a drop in local demand weighed on sentiment. The December jeera contract on the NCDEX fell 2.09 percent to close at 14,537.5 rupees per 100 kg. Spot jeera fell 7.5 rupees to 15,195 rupees per 100 kg at Unjha, a key market in Gujarat state. Indian turmeric futures fell on profit-taking, with higher stocks and hopes of increased supplies from January due to the new arrival season aiding selling.
The December turmeric contract on the NCDEX ended down 1.94 percent at 5,146 rupees per 100 kg. It had touched the 4 percent upper circuit before closing 3.31 percent higher on Thursday. Spot turmeric rose 15 rupees to 5,100 rupees at Nizamabad on export enquiries. Indian pepper futures rose on slack domestic supplies and depleting stocks, though sluggish exports and estimates of higher output limited the upside.
The most-active December pepper contract on the NCDEX rose 1 percent to 38,495 rupees per 100 kg. In Kochi, spot pepper rose 84 rupees to 38,628 rupees per 100 kg. Indian soyaoil futures rose, supported by good demand in the local spot markets and weakness in the rupee, while soyabeans ended up on robust soyameal exports offsetting rising supplies from the new crop.
The December soyaoil contract on NCDEX ended up 0.99 percent at 717.40 rupees per 10 kg. The December soyabean contract closed up 0.70 percent at 3,242.5 rupees per 100 kg, while, while rapeseed rose 0.14 percent to close at 4,193 rupees per 100 kg. At the Indore spot market in Madhya Pradesh, soyaoil rose 1.7 rupees to 730.15 rupees per 10 kg, while soyabeans dropped 28 rupees to 3,242 rupees per 100 kg. At Jaipur in Rajasthan, rapeseed rose 15 rupees to 4,400 rupees.
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