Thursday, April 2, 2009

India soyoil, oilseeds edge up on Malaysian palm

MUMBAI, April 2 (Reuters) - India's soyoil, soybean and rapeseed futures rose on Thursday morning tracking gains in Malaysian palm oil, which rose to fresh highs, analysts said.

A lower-than-expected U.S. soy planting forecast also supported prices. However, expectations of higher edible oil imports and rise in local supplies weighed.

At 10:39 a.m, May soybean NSBK9 on the National Commodity and Derivatives Exchange was up 0.15 percent at 2,374 rupees per 100 kg, while May soyoil NSOK9 was at 452.65 rupees per 10 kg, up 0.33 percent.

June rapeseed futures NRSM9 were up 0.58 percent at 477 rupees per 20 kg.

Benchmark June palm oil futures KPOc3 on Bursa Malaysia Derivatives Exchange was up 1.4 percent at 2,099 ringgit a tonne, a new contract high. (Reporting by Abhishek Shanker & Sourav Mishra; Editing by Sunil Nair)

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