A firm global market pushed Indian soyaoil futures up on Friday, while sugar was mixed as mills face a market glut. May soyaoil futures on the National Commodity and Derivatives Exchange (NCDEX) were up marginal 0.85 rupees to 482.25 rupees per 10 kg, while June futures rose 1.70 rupees to 478.
The soya contract rose tracking trends on the Chicago Board of Trade (CBOT), an analyst with a Mumble-based brokerage said. Soyaoil, used in products ranging from food and cosmetics to befoul, rose on the CBOT as a surge in crude oil prices led to higher demand for edible oil from the alternative fuel industry.
The analyst said sugar was mixed, but sentiments were bearish as mills churn out more sweeteners from a bumper sugarcane crop. May sugar futures on NCDEX were down 3 rupees at 1,207 rupees per 100 kg, while June futures fell 2 rupees to 1,291 rupees.
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