Indian soyabean ends up; sugar, spices fall

India's soyabean futures rose on Wednesday, tracking a rise in the world market, though higher area under cultivation weighed on sentiment. Soyaoil futures, however, edged down on weak demand and on a drop in Malaysian palm oil prices, while rapeseed inched up on thin supplies offsetting good rainfall in key growing areas.
The October soyabean contract on India's National Commodity and Derivatives Exchange rose 0.81 percent to close at 4,032.5 rupees per 100 kg. The October soyaoil contract slipped 0.08 percent to end at 802.55 rupees per 10 kg, while rapeseed edged up 0.13 percent to close at 4,506 rupees per 100 kg.
At the Indore spot market in Madhya Pradesh, soyaoil fell 5.3 rupees to 788.35 rupees per 10 kg, while soyabean fell by 35 rupees to 4,521 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed fell 40 rupees to 4,310 rupees per 100 kg.
SUGAR: Indian sugar futures fell as traders chose to book profits following a sharp rise in the previous session on hopes of a rise in demand for the sweetener in the coming weeks. The key September sugar contract on the NCDEX ended down 0.63 percent at 3,482 rupees per 100 kg. The most traded S-variety sugar in the Kolhapur spot market in top-producing Maharashtra state rose 33 rupees to 3,426 rupees per 100 kg.
CHANA: Chick peas, or chana, futures rose due to a pickup in the spot demand in the festival season amid thin supplies, but improved rains in leading pulses-growing states weighed on sentiment. The most-active chana for September delivery on the NCDEX rose 0.84 percent to close at 4,689 rupees per 100 kg.
In the Delhi spot market, chana rose 56.5 rupees to 4,794 rupees per 100 kg on thin supply. "Demand from millers has improved and could stay firm if prices remains below 4,800 rupees," said Arun Kumar Goel, a trader from Delhi.
SPICES: Turmeric futures fell as traders booked profits after a 4 percent rise in the previous session, but lower area under cultivation and reduced spot supplies are likely to restrict the downside. The September turmeric contract on the NCDEX fell 3.31 percent to close at 6,020 rupees per 100 kg. At Nizamabad, a key market in Andhra Pradesh, spot turmeric edged up 6 rupees to 5,610 rupees per 100 kg.
JEERA: Jeera, or cumin seed, futures dropped, tracking weak spot cues due to a drop in demand while rains in Gujarat state also weighed.