India Edible Oil futures hit upper cap as govt raises import duty.

Futures contracts of all constituents in the edible oil complex hit their upper circuits on the National Commodity and Derivatives Exchange and the Multi Commodity Exchange of India after the government raised the import duty. Crude palm oil contract on the MCX hit 4% upper circuit as the government raised the duty of the crude and refined palm oil. The most active December futures of soybean on the NCDEX hit a 3% upper limit. Refined soyoil contracts also hit a one week high of 698.95 rupees per 10 kg. Mustard seed futures also ended higher because of import duty rise.