Indian oilseeds and soyaoil futures fell on Thursday on profit-taking driven by a stronger rupee and a drop in Malaysian palm oil. A strong rupee makes edible oil imports cheaper and also trims margin of oilmeal exporters.
Malaysian palm oil futures ended lower for the first time in five days on Thursday as the contract succumbed to the strong ringgit and concerns that demand in April would be weaker than anticipated.
The June soyabean futures on the National Commodity and Derivatives Exchange ended 1.6 percent lower at 3,638 rupees per 100 kg, after rising to 3,712 rupees in the previous session, the highest level since July 18.
The May rapeseed contract fell 1 percent to 3,659 rupees per 100 kg, after rising to 3,723 rupees in the previous session, the highest level since December 19.
At 12:47 GMT, the key June soyaoil contract was down 0.43 percent at 579 rupees per 10 kg.
SUGAR
Indian sugar futures dropped on ample supplies and as an industry body revised production estimates.
India, the world's biggest sugar consumer, is likely to produce 27 million tonnes of the sweetener in 2014/15, up nearly 2 percent from the previous estimate, a leading industry body said on Thursday.
The key May contract was quoted 1.36 percent lower at 2,402 rupees per 100 kg.
India might consider giving cash-strapped sugar companies an incentive to export white, or refined, sugar as long as mills agree to pay the dues they owe to millions of cane growers.
CHANA
Indian chana, or chickpea, futures ended steady as rising supplies from the new season crop offset concerns over production due to untimely rainfall in key producing areas.
The May contracts ended 0.05 percent down at 4,004 rupees per 100 kg.
Untimely rains in the last few weeks in the central state of Madhya Pradesh and in western state of Maharashtra damaged the mature chana crop in some districts.
GUAR SEED
Indian guar seed futures ended down on sluggish export demand for guar gum.
The May contract closed 3.4 percent lower at 4,461 rupees per 100 kg.
CUMIN SEED
Indian jeera, or cumin seed, futures ended flat as profit-taking offset concerns over production.
The key May jeera contract eased 0.06 percent to 17,590 rupees per 100 kg.
TURMERIC
Turmeric futures rose on thin supplies. The key May contract closed up 0.4 percent at 8,564 rupees per 100 kg.
CORN, WHEAT
The May corn contract fell 1.76 percent to 1,173 rupees per 100 kg, while the May wheat contract closed down 0.5 percent to 1,455 rupees per 100 kg.
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