Refined soybean oil was also trading lower on the National Commodities and Derivatives Exchange (NCDEX) on Wednesday afternoon, in line with the declining trend in global soybean oil.
December refined soybean oil futures were trading at ₹1,173 on the NCDEX on Wednesday afternoon, down 1.25 per cent at ₹1,188 from its previous close. Soybean oil’s global markets fell on a record high crushing in the US. There has also been an increase in the import of soybean oil in the domestic market.
Crude palm oil (CPO) futures were also trading with a fall on the Multi Commodity Exchange (MCX) on Wednesday afternoon. December CPO futures were trading at ₹1061.50 on MCX on Wednesday afternoon, as against ₹1087.40, a decline of 2.38 per cent over the previous close.
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Market participants felt that the price trends in the international markets and increase in imports of certain oils are due to decline in edible oils.
December Coriander (Coriander) futures was trading at ₹9,020 on NCDEX on Wednesday afternoon at ₹8,752, up 3.06 per cent from its previous close. According to reports, sowing of coriander is going on in Gujarat, Madhya Pradesh and Rajasthan. The report cited 1.08 lakh hectares of area under crop in Gujarat as of December 6, which is 126 per cent of the normal area.
December natural gas futures were trading at ₹290.80 on MCX on Wednesday afternoon, as against ₹284.70, a rise of 2.14 per cent over the previous close.
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