November 26, 2007

Active Malaysian markets support India's soy oil prices

Refined soy oil futures traded on India's National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange of India (MCX) counters were up following firm Malaysian palm oil markets.

The most active crude palm oil (CPO) for February delivery increase RM 52 to RM 3044 per tonne.

In the spot markets, soy oil at the Indore market was up by Rs4 to Rs525; at Nagpur it gained Rs3 to Rs524 and in Mumbai the prices edged up Rs8 to Rs542 per 10 kg.

Refined soy oil for January delivery opened at Rs 535.10, moved in the range of Rs 541.8 - Rs533.50 and was last quoted at Rs540.15, up by Rs5.90 or 1.10 percent at 16:06 IST.

MCX refined soy oil January contract opened at Rs535 traded between Rs541.35 to Rs533.40 and has traded at Rs 40, up by Rs5.65 or 1.06 percent.

US$1 = Rs39.690   As of  November 26