Indian soyaoil, soyabean and rapeseed futures edged up on Thursday on concerns that untimely rains have hit crops and restricted supplies in local markets, bucking the trend overseas. Malaysian palm oil futures ended lower on the prospect of another month of strong crude palm production in the world's second-largest grower, although hopes for firm export demand provided some support.
Unseasonal storms have badly damaged the winter crop in large parts of the fertile northern plains. The June soyabean futures contract on the National Commodity and Derivatives Exchange ended higher 1.38 percent at 3,972 rupees per 100 kg. The May rapeseed contract rose 0.60 percent to 3,719 rupees per 100 kg. At 12:20 GMT, the key June soyaoil contract was up 0.67 percent at 589 rupees per 10 kg.
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 last Thursday.