02.07.2020 (Cogencis) - NEW DELHI – Following are the highlights of trading in edible oil markets today: 

* At 1625 IST

   –July soybean contract was up 0.3% at 3,766.0 rupees per 100 kg on NCDEX

   –July refined soyoil contract was up 0.02% at 809.3 rupees per 10 kg on NCDEX

   –July crude palm oil contract was up 0.7% at 664.8 rupees per 10 kg on MCX

   –July mustard contract was up 0.2% at 4,701.0 rupees per 100 kg on NCDEX

* Soybean contracts hit a nearly one-week high of 3,790 rupees per 100 kg on the National Commodity and Derivatives Exchange due to improved demand from crushing plants, analysts said. A sharp rise was limited due to tepid soymeal demand from exporters.

* Refined soyoil contracts on NCDEX and crude palm oil futures on Multi Commodity Exchange of India edged higher as buying picked up in physical markets following relaxations of lockdown curbs, analysts said. Demand for edible oil has risen from hotels, restaurants, and the catering sector.

* Weakness in crude palm oil contracts on Bursa Malaysia Derivatives restricted any significant rise on MCX. Futures contracts of crude palm oil on BMD settled lower today due to weak global demand outlook for the commodity amid the COVID-19 pandemic, said analysts.

* Mustard contracts on NCDEX ticked higher following procurement at minimum support price from farmers by government agencies, dealers said.  End

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

Edited by Subham Mitra 

http://www.cogencis.com/newssection/india-edible-oil-mcx-cpo-rises-as-domestic-demand-picks-up-pace/