Profit Booking Hit Soya Oil Futures

Mumbai: Although the soya complex gained, supported by higher energy prices, soya oil futures price on the National Commodity and Derivative Exchange (NCDEX) fell on Friday, on profit-booking by traders.

With the international market turning weak at the Chicago Board of Trade and relatively lower palm oil prices, soy oil prices witnessed selling, said a trader.

The November soya oil contract was down 0.68 per cent at Rs 522.10 per 10 kg.

Soya complex is supported by the Chinese demand and weak acreage report in US producing regions, according to analysts.

USDA had confirmed a sale of 1,07,000 tonnes of soyabeans to China this week, and traders expect that nearly all of the China imports for January delivery will be from the US as South America stocks have tightened, a report said.

China has already imported near 3 million tonnes of soybeans for October and November.

Chana down

Chana prices witnessed a marginal decline in both the spot and futures market on profit-taking due to fresh arrivals.

Chana November contract on NCDEX slid by Rs 13 to Rs 23,970 per quintal. Chana December contract dropped by Rs 18 to close at Rs 2,389 a quintal on the Exchange.

Pulse arrivals

There have been fresh arrivals of pulses at JNPT port Mumbai, said a trader, adding that 189 containers of pulses have arrived at the port this week.

Desi chana from Rajasthan and Madhya Pradesh were quoted higher at Rs 2,415 a quintal.

NCDEX polled chana prices at Delhi declined by Rs 3 to close at Rs 2,404 a quintal. Prices have also corrected by Rs 7 at Bikaner (Rs 2,301 a quintal), whereas it gained by Rs 22 at Indore (Rs 2,376 a quintal).