Indian soyaoil futures rise on rupee weakness

13 May, 2015

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.

Read Comments