Indian soyaoil, oilseeds futures rise; chana up

Indian soyaoil futures rebounded on Friday from their lowest level in four months on bargain buying, supported by gains in overseas prices, though higher edible oil imports capped the upside. Soyabeans edged higher due to good export demand for soyameal and on thin supplies, while rapeseed rose tracking gains in overseas oilseed and edible oil prices.
Malaysian palm oil futures rose on Friday on bargain-hunting after three straight sessions of losses, with traders expecting seasonally lower production and firm exports to help stocks ease further. The key soyabean contract on India's National Commodity and Derivatives Exchange closed up 0.91 percent at 3,503.5 rupees per 100 kg, while rapeseed contract for April rose 0.35 percent to 3,477 rupees per 100 kg.
The key April soyaoil contract finished 1.7 percent higher at 679 rupees per 10 kg, after falling to 663.6 rupees in the previous session, its lowest level since November 12, 2012. At the Indore spot market in Madhya Pradesh, soyaoil rose 5.90 rupees to 683.15 rupees per 10 kg, while soyabeans climbed 21 rupees to 3,593 rupees per 100 kg. At Jaipur in Rajasthan, rapeseed edged up 33 rupees to 3,525 rupees.
CHANA Indian chana futures rose on bargain buying, though rising supplies from the new season crop and prospects of a higher output capped the gains. The key April contract closed up 0.47 percent at 3,402 rupees per 100 kg. In the New Delhi spot market, chana, or chickpea, fell 28 rupees to 3,459 rupees per 100 kg.
TURMERIC Indian turmeric futures erased gains after hitting a contract high as mounting stocks and supplies from the new season crop offset concerns over lower output. The key April contract closed down 1.87 percent at 6,930 rupees per 100 kg, after hitting a contract high of 7,142 rupees earlier in the day.
PEPPER Indian pepper futures rose, tracking firm cues from spot where seasonal demand was good. Slack supplies and depleting stocks also aided the sentiment. The benchmark April contract finished 0.82 percent up at 36,175 rupees per 100 kg.