Indian soyabean futures eased from their contract high on Friday as traders rushed in to book profits due to higher arrivals. Rapeseed traded steady. The actively traded soyabean for May delivery on the National Commodity and Derivatives Exchange was 0.68 percent lower at 3,866 rupees per 100 kg, after hitting a contract high of 3,952 rupees. The contract has gained more than 7 percent since April 1.
"We might see more profit-booking today. Arrivals have increased in the Indore market to 2,000-2,500 bags of 100 kg each compared to 1,300 bags yesterday," said Ambika T.B., an analyst with Karvy Comtrade. Soyabeans may trade in a range of 3,810 rupees to 3,940 rupees on Friday, said the analyst. Soyaoil for May delivery was 0.67 percent lower at 693.95 rupees per 100 kg. Rapeseed for May delivery was 0.11 percent higher at 3,559 rupees per 100 kg. India's edible oil imports in February jumped 9.25 percent on year to 954,176 tonnes, a leading industry body said. India meets more than half of its edible oil requirement through imports, which largely constitute palm oil.
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