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India Oilseeds Complex Regains On Global Cues: April 22, 2012

ByCommodityOnline
Published 04/20/2012, 05:29 AM
Updated 05/14/2017, 06:45 AM
MAR
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Soybean prices ended higher on last days trading session at Rs.3273 for May contract up by 1.07%. Likewise, positive movement was noticed on CBOT platform where May futures ended at 1415.75 levels up by 0.18%.

Soy oil prices have bounced back yesterday. May future soy oil prices ended at Rs. 763.3 registering a surge by 0.65 per cent while in CBOT May futures ruled higher at 55.69 levels up by 0.18%.

Mustard seed prices have moved up with active buying in the commodity. May futures were higher by 1.29% to Rs.3919. We are expecting some hike in prices in this commodity.

NCDEX RM Seed Ends Higher On Short Covering
 
NCDEX May mustard seed futures traded lower in the early part of the trading session but bounced back from the lows owing to short coverings by the market participants and settled 1.105 higher on Thursday.

Arrival pressure in the domestic market led spot prices to end on bearish note. As per COOIT, the country's rapeseed output is estimated to drop by 12.6 percent to 6.03 million tonnes in the year to June 2012.

The overall rabi (November-March) oilseed crop for 2011-12 is estimated to fall to 8.79 million tonnes from 9.87 million tonnes last year, with a drop in sown area from 9.72 million hectares last year to 9.07 million ha this time.

RM seed meal shipments during the finance year 2011-12 (Apr-Mar) were 1,171,895 tonnes (value Rs. 1028.30 cr), up by 25 per cent from 9,36,238 tonnes (value Rs. 972.73 cr) a year ago.

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