MUMBAI, March 26 (Reuters) - India oilseed and soyoil futures may inch up on Thursday, tracking firm Malaysian palm oil and gains in the U.S. grain market, analysts said.
April soybean NSBJ9 on the National Commodity and Derivatives Exchange ended down 0.04 percent at 2,363.5 rupees per 100 kg on Wednesday while April soyoil NSOJ9 fell 0.47 percent to 446.05 rupees per 10 kg and May rapseed rose 0.04 percent to 455.85 rupees per 20 kg.
U.S. soybean and grain futures rose on Thursday as unexpectedly strong U.S. housing and durable goods sales data fueled hopes that a sharp recession in the world's largest economy may be abating. See [ID:nSYD488913]
At 09:42 a.m., the benchmark June palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange was up 1.12 percent at 1,994 ringgit a tonne. Indfia
Gains may be capped the government decision to allow zero duty imports of crude soyoil, they added.
The Indian government has issued a formal order to abolish a 20 percent import tax on crude soyoil, a senior government official said on Wednesday. See[ID:nDEL438215].
(Reporting by Rajendra Jadhav; Editing by Ramya Venugopal)
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