Indian rapeseed futures extended gains on Friday on an expected drop in production due to lower sowing, while soyaoil rose on a drop in palm oil imports in January. Soyabeans rose on thin supplies in local spot markets. India's palm oil imports in January dropped more than a fifth from a month earlier to 658,670 tonnes as refiners increased overseas purchases of sunflower and soyaoil, data from a trade body showed on Friday.
The April rapeseed contract on the National Commodity and Derivatives Exchange rose 0.9 percent to 3,342 rupees per 100 kg, while the April soyabean contract closed 0.6 percent higher at 3,394 rupees per 100 kg. At 1243 GMT, the key April soyaoil contract was 0.66 percent up at 598.75 rupees per 10 kg. Oilseeds and soyaoil futures are likely to open lower in the next session on weak demand.
SUGAR Sugar futures fell for fourth straight day on rising supplies amid weak demand, though hopes that the government will provide subsidy for raw sugar exports restricted the downside. India's cash-strapped sugar mills, waiting for the government to approve export subsidies, are being forced to dump supplies in the domestic market to raise cash to pay cane farmers, pulling down local spot prices to 4-1/2 year lows.
The key March contract was quoted 0.19 percent lower at 2,642 rupees per 100 kg. India is considering giving export incentives for 1.4 million tonnes raw sugar, Food Minister Ram Vilas Paswan said on Wednesday. The contract is likely to rise in the next session on bargain buying.
GUAR SEED Indian guar seed futures fell on sluggish export demand for guar gum and ample supplies. The March contract closed 1.2 percent down at 3,727 rupees per 100 kg. The contract is likely to rise on bargain-buying in the next session.
CHANA Indian chana, or chickpea, futures eased on profit-taking, though a likely fall in the production due to a sharp drop in the area under cultivation restricted the downside. As on February 13, farmers had cultivated chana on 8.6 million hectares, compared with 10.2 million hectares a year earlier. The April contract closed 0.63 percent lower at 3,619 rupees per 100 kg, after rising to 3,669 rupees earlier this week, its highest since December 31.
JEERA Indian jeera, or cumin seed, futures edged higher on an improvement in demand, though rising new season supplies capped the upside. The key March jeera contract rose 1.9 percent to close at 14,230 rupees per 100 kg.
TURMERIC Turmeric futures extended losses on rising supplies from the new season crop in southern states. The key April contract closed down 0.5 percent at 8,002 rupees per 100 kg.
CORN, WHEAT The March corn contract jumped 2 percent to 1,243 rupees per 100 kg, while the March wheat contract edged up 0.1 percent to 1,625 rupees per 100 kg.
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