Prices of tur fell in Akola due to subdued demand from dal millers.
Malaysia CPO up on CBOT soy cues; export data eyed
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives rose marginally, tracking overnight gains in soyoil contracts on CBOT. The most-active July contract was up 7 ringgits at 2,415 (40,825 rupees) ringgits per tn. Prices of crude palm oil and soy oil move in tandem. Overall sentiment for the palm oil, however, remains weak due to expectation of higher output in the second half of the year.
Soybean research body sees 2018-19 output up 20% at 14 mln tn.
Output of soybean in the country is likely to increase to 14.0 mln tn in 2018-19 (Jul-Jun) kharif season compared with 11.7 mln tn last year as more area is expected to come under the crop following forecast of normal monsoon. Soybean production will rise if monsoon arrives on time. Normal duration and distribution of rains in key growing areas may also boost the yield of the crop.
Mustard seed up in Jaipur on demand for oil, meal
Prices of mustard seed were up in Jaipur, Rajasthan owing to improved demand for mustard oil and meal from domestic stockists, oil millers and crushers. A fall in arrivals also supported mustard seed prices. Export demand for mustard meal also supported prices in the domestic market.