MUMBAI, Feb 1 (Reuters): Indian oilseeds and soyoil futures rose on Friday following firm cues from the international market while lesser area under rapeseed cultivation was supporting sentiment.
Malaysian palm oil futures bounced back from their lowest since mid-December on Friday as traders closed short positions ahead of the long weekend, but were down for a third week in a row on weakness in demand for the edible oil.
At 1250 GMT, the key February soyoil contract on the National Commodity and Derivatives Exchange (NCDEX) was 1.13 per cent up at 616 rupees per 10 kg.
The February soybean contract closed 2.16 per cent higher at 3,405 rupees per 100 kg, while the April rapeseed contract rose 1 per cent to 3,345 rupees per 100 kg.
Sugar futures rose on value buying though weak local demand amid higher supplies on increased production may weigh on prices on Monday.
The key March contract was quoted 0.37 per cent higher at 2,725 rupees per 100 kg.
India is likely to produce 26 million tonnes of sugar in the current season ending Sept. 30, as much as 4 per cent more than an earlier estimate, the head of an industry body said on Friday.
India's raw sugar exports could halve this year as mills wait for the government to give the go-ahead for an increased production subsidy, traders said, potentially supporting depressed global prices.
Indian jeera, or cumin seed, futures ended weak on sluggish local demand and expectations of a rise in supplies from the new season crop.
The key February jeera contract dropped 0.99 per cent to 14,465 rupees per 100 kg.
Jeera futures are expected to open lower on Monday on lower area under cultivation.
India oilseeds, soyoil, chickpeas rise, spices fall
FE Team | Published: February 02, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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