Indian soyaoil futures edged up on Tuesday on a weaker rupee and higher Malaysian palm oil prices, while soyabeans dropped on sluggish export demand for soyameal. A weak rupee makes edible oil imports expensive. The rupee fell on Tuesday. Malaysian palm oil futures rose to a five-week high on Tuesday on a weakening ringgit and robust demand in early May. At 12:16 GMT, the key June soyaoil contract on the National Commodity and Derivatives Exchange was up 0.20 percent at 606.50 rupees per 10 kg. The June soyabean futures ended 2.8 percent lower at 4,143 rupees per 100 kg, while the June rapeseed contract eased 0.4 percent to 4,090 rupees per 100 kg.
SUGAR Indian sugar futures were steady as summer-season demand offset ample supplies. Demand for sugar from ice-cream and beverage makers typically rises during the summer. India is likely to produce excess sugar for the sixth straight year in 2015/16. The key July contract was quoted 0.04 percent higher at 2,421 rupees per 100 kg.
CORN, WHEAT The June corn contract edged up 0.17 percent to 1,187 rupees per 100 kg, while the June wheat contract closed down 0.86 percent at 1,495 rupees per 100 kg on rising supplies amid sluggish demand.
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