Informist, Thursday, Nov 25, 2021
By S. Anirudh Iyer
NEW DELHI – Soybean futures rose on the National Commodity and Derivatives Exchange today, while those of crude palm oil fell on the Multi Commodity Exchange of India.
* CRUDE PALM OIL contracts fell as data by private cargo surveyor Amspec Agri showed that CPO exports from the country increased to 483,894 tn during Nov 1-25, from 305,330 tn during the same time last month.
* India is a major importer of CPO and a rise in exports from Malaysia, the world’s second-largest producer, indicates a rise in supply in domestic markets going ahead, which weighs on sentiment.
* SOYBEAN contracts ended higher on NCDEX as demand from poultry-feed manufacturers for soymeal continued to support prices of the oilseed. Soybean is crushed to produce soymeal.
* REFINED SOYOIL contracts were marginally higher on the NCDEX today. The rise was capped because of expectations of a rise in supply going ahead due to increase in crushing of soybean.
* MUSTARD prices were unavailable on the NCDEX today as there was no trade.
* At 1823 IST:
–December contract of soybean was up 3.8% at 6,835 rupees per 100 kg on NCDEX
–December contract of refined soyoil was up 0.1% at 1,246.9 rupees per 10 kg on NCDEX
–December contract of crude palm oil was down 0.4% at 1,130.5 rupees per 10 kg on MCX
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Aditya Sakorkar
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