Indian soyabeans rose for the second straight session on Friday after the country's top producing state proposed to abolish a tax on oilmeal. The March soyabean contract on the National Commodity & Derivatives Exchange ended 0.73 percent up at 3,716 rupees ($54.10) per 100 kg after Madhya Pradesh, in the state budget, proposed to remove a 1 percent sales tax on animal feed.
The key April rapeseed contract edged up 0.18 percent to 3,941 rupees per 100 kg, tracking gains in soyabeans. March soyaoil futures were 0.89 percent higher at 621 rupees per 10 kg at 1247 GMT on expectations that the federal government would raise the duty on imports of vegetable oils.
SUGAR The most active March sugar contract was trading 0.72 percent higher at 3,204 rupees per 100 kg. Indian sugar futures had gained 3.1 percent as of Thursday's close on expectations of lower availability of the sweetener after the key producing Maharashtra state reportedly asked its millers to meet export targets.
CORN, WHEAT March corn futures jumped 1.66 percent to 1,411 rupees per 100 kg, while the April wheat contract slipped 0.13 percent to 1,552 rupees per 100 kg.
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