Cogencis (13/04/2020) - NEW DELHI – Futures contracts of all components of the edible oil basket traded higher on domestic exchanges today.

Futures contracts of soybean ended 1.3% higher on the National Commodity and Derivatives Exchange due to lower arrival in spot markets as most of them are shut due to a lockdown to curb spread of coronavirus, analysts said.

The likely extension of the 21-day lockdown also supported soybean contracts on the NCDEX due to panic buying, said Ajay Kedia, head of Kedia Commodities. The government is yet to announce the details of such an extension. 

No fresh cues from Chicago Board of Trade were received as the bourse was shut due to extended holidays for Good Friday and Easter, analysts said.

Contracts of refined soyoil and crude palm oil on the Multi Commodity Exchange of India also climbed higher due to tepid imports in the country, dealers said.

Weakness in key contracts on Bursa Malaysia Derivatives, however, limited the rise in crude palm oil prices on the MCX, analysts said.

The most active June delivery crude palm oil contract on BMD settled sharply lower due to higher output in the country, said analysts.

Malaysia's palm oil output rose 8.4% on month to 1.4 mln tn in March, according to data from Malaysian Palm Oil Board. 

The June crude palm oil contract on the BMD closed 2.8% lower at 2,247 ringgits (around 39,637 rupees) a tn.

Mustard futures settled higher on the NCDEX due to improved demand from crushing plants in Rajasthan, the top grower, analysts said.

The following table details prices of edible oils and oilseeds at 1703 IST, in rupees, and the difference compared with the previous session: 

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