NCDEX Soybean Positive On Thin Supply

Soybean futures on India's National Commodity and Derivatives Exchange NCDEX is positive on thin supply.

NCDEX soybean futures for March delivery was up by 1.32 percent at Rs.3374.5 per 100 kg as of 11.04 AM IST on Friday.
India, the world's second largest vegetable oil consumer is likely to increase import duty on its cheap vegetable oil imports. This move is expected to be positive for soybean growers in the country.

Soybean production in the country is likely to reach 12.96 lakh tons against the total production 12.74 tons in 20101-11, according to the Ministry of Agriculturs.  [Via]
 

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