NCDEX Soybean futures traded higher on account of higher export figures of soymeal as well as total oilmeal as compared to last month.
India's soy meal exports, in March 2012 increased by 12.16 per cent to 4,60,464 tonnes from 4,10,537 tonnes during the same period last year.
However, the soy meal shipments during the finance year 2011-12 (April-March) were 38,28,521 tonnes, slightly lower by 0.26 per cent from 38,38,775 tonnes a year ago.
Average soy meal price of March was USD433/tonnes FOB at domestic ports (1$=50.36). Total oil meal shipments during the finance year 2011-12 (April-March) were 55,22,312 tonnes (value Rs 6360-.79 Cr), up by 8.88 per cent from 50,71,779 tonnes (value Rs 8219.76 Cr) a year ago.
During the FY 2011-12 shipments to Iran, Thailand, Japan, EU and Mozambique (Africa) registered exceptional growth.
As per the NCDEX circular dated 4th April, total position limits of soybean on all contracts for members will be revised to 1 lakh tonnes from the current 1.50 lakh tons and for the clients to 20,000 tonnes from the current 30,000 tonnes, while for the near month contracts, position limits for members will be revised to 27,000 tonnes from the current 40,000 tonnes and for clients it will be 5,400 tonnes from the current 8,000 tonnes w.e.f. 10th April 2012.
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NCDEX Soybean Edges Higher On Firm Exports: April 10, 2012
Published 04/10/2012, 03:04 AM
Updated 05/14/2017, 06:45 AM
NCDEX Soybean Edges Higher On Firm Exports: April 10, 2012
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