Indian oilseed futures rose on Friday amid short-covering due to a poor rapeseed harvest as the winter sown oilseed crop was hit by untimely rain and hailstorms.
Soyaoil futures reflected the sentiment in rival palm oil.
Malaysian palm oil futures ended up as traders closed short positions before the weekend, but gains were capped by a strong ringgit. The May rapeseed contract rose 1.3 percent to 3,708 rupees ($59) per 100 kg on the National Commodity and Derivatives Exchange.
The June soyabean futures ended 1.2 percent higher at 3,681 rupees per 100 kg. At 0105 GMT, the key June soyaoil contract was up 0.4 percent at 582 rupees per 10 kg.
GUAR SEED Indian guar seed futures ended up due to export demand for guar gum. The May contracts closed 2.6 percent higher at 4,579 rupees per 100 kg.
CUMIN SEED Indian jeera, or cumin seed, futures ended higher on concerns over production. The key May jeera contract closed up 2.9 percent at 18,105 rupees per 100 kg.
SUGAR Indian sugar futures rose on fresh buying on expectations of sops from the government. On Monday, Food Minister Ram Vilas Paswan said the world's second biggest producer after Brazil would explore an option of building stocks to cut a surplus in the market. Key May contract was quoted 0.4 percent up at 2,408 rupees per 100 kg.
TURMERIC Turmeric futures fell on profit-taking. The key May contract closed down 2.7 percent at 8,332 rupees per 100 kg.
CHANA Indian chana, or chickpea, futures ended down on correction, though sentiment remained bullish on prospects of lower output. The May contracts ended 1.1 percent down at 3,959 rupees per 100 kg.
Untimely rains in the last few weeks in the central state of Madhya Pradesh and in the western state of Maharashtra damaged the mature chana crop in some districts.
CORN, WHEAT The May corn contract rose 0.8 percent to 1,179 rupees per 100 kg, while the May wheat contract nudged up 0.3 percent to 1,460 rupees per 100 kg.
Comments
Comments are closed.