Indian oilseeds and soyaoil futures fell on Tuesday, in line with overseas palm oil prices which dived for the third straight day. Malaysian palm oil futures slipped for the third session on Tuesday to their lowest level in more than a week, tracking declines in competing vegetable oil markets, although a weaker ringgit provided some support and volume was light.
The key June soyaoil contract on the National Commodity and Derivatives Exchange was down 0.73 percent at 599 rupees per 10 kg at 1252 GMT. The June soyabean futures ended at 4,058 rupees per 100 kg, down 0.97 percent, while the June rapeseed contract dropped 1.08 percent to 4,049 rupees per 100 kg.
Domestic sugar stocks are expected to touch 10.3 million tonnes on October 1, when the next current 2015/16 season starts, the highest in past six years, the ISMA said. Since October 1, 2014, when the current season began, mills have exported 460,000 tonnes and expect to export another 200,000-300,000 tonnes before September 30.