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Indian soyoil futures rise tracking overseas markets

© Provided by The Rahnuma Daily

NEW DELHI, March 17 (Reuters) – Indian soyoil futures wereheaded for a third straight gaining session on Friday, trackingthe soyoil contract on the Chicago Board of Trade (CBOT) and theDalian Commodity Exchange, as well as palm oil on the BursaMalaysia Derivatives Exchange. April soyoil futures were up 1 percent at 642.70rupees ($9.82) per 10 kg as of 1211 GMT. Soybean oil on the Chicago Board of Trade gained 0.7percent, while the May soybean oil contract on the DalianCommodity Exchange rose 0.5 percent. Malaysian palm closed 0.3 percent higher. The most actively traded Indian rapeseed futures tracked theprice of soyoil in the domestic market to close higher for asecond straight session. The April rapeseed contract closed 1.1 percenthigher at 3,883 rupees per 100 kg on the National Commodity &Derivatives Exchange Ltd (NCDEX). The most actively traded soybean futures were down0.2 percent at 2,884 rupees. ($1 = 65.4400 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Amrutha Gayathri)

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