08.04.2020 (Cogencis) - NEW DELHI – Futures contracts of all components of the edible oil basket were up on the domestic exchanges today.

Contracts of soybean and refined soyoil rose on the National Commodity and Derivatives Exchange due to supply concerns in retail markets because of the lockdown, analysts said. 

The government has enforced a lockdown to stem spread of coronavirus which has claimed around 150 lives and infected 5,000 people so far in the country. 

Rise in the soybean on the Chicago Board of Trade also supported contracts on NCDEX, traders said. Prices were up on the Chicago bourse due to reports of lower crop in Brazil, the world's second largest producer.

Brazilian agribusiness consultancy AgRural lowered its estimate for the country's soybean crop to 123.8 mln tn from 124.3 mln tn.

The front-month April crude palm oil contract on the Multi Commodity Exchange of India rose due to tepid imports and in line with gains in contracts on Bursa Malaysia Derivatives, analysts said.

Weakness in rupee against the US dollar also supported the prices. A weak rupee makes dollar-denominated imports costlier.

Malaysia's palm oil exports in March are seen 6.9% higher on month at 1.16 mln tn, data by cargo surveyor AmSpec Agri Malaysia showed.

Mustard futures were up on NCDEX due to sluggish arrivals in domestic markets because of the clampdown, analysts said.

The following table details prices of edible oils and oilseeds at 1630 IST, in rupees, and the difference compared with the previous session:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

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