12/4/07 (Economic Times) - MUMBAI: Oil and oilseed contracts were up on Wednesday at the NCDEX backed by firmness in the international markets. Mustard seed contract closed up by 1-1.5% on account of high edible oil prices with international palm oil price showing an improvement of almost 2% said Amol Tilak from Kotak Commodity Services Even the refined soya oil that did a volume of Rs 301 crore closed up by 1-1.5% mainly due to firmness in Malaysian palm oil.

A total volume of Rs 4,144 crore (one-way) was registered at NCDEX with active volumes in pepper, guar seed, chana and soya oil. Pepper, that clocked a volume of Rs 1,544 crore, traded in a choppy manner. The near month pepper contract closed at Rs 15,927 per quintal as against previous close of Rs 15,433 per quintal. Chana did a volume of Rs 520 crore and the near month contract closed at Rs 2,423 up as against the previous close of Rs 2,391 per quintal.

Guar seed did a volume of Rs 305 crore with the near month contract closing at Rs 1,998 crore as against the previous close of Rs 1,984 crore. Sugar May, June and July contracts tanked by 1-2% on account of weak fundamentals, especially with Maharashtra mills reducing prices. MCX recorded total turnover of Rs 4,354.19 crore by 5 pm on Wednesday, April 11, 2007.

Bullion turnover by the end of the first session accounted for Rs 775.73 crore against Rs 822.91 crore in the comparable session on Tuesday. In the metal segment, copper contracts accounted for turnover of Rs 1,868.53 crore.  (RM1.00 = Rs12.38)