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AGRI WRAP-India soyoil, chana hit contract low; spices flat
MUMBAI Oct 1 (Reuters) - Indian soyoil futures continued last week's losing streak on Monday to hit a fresh contract low, hammered by a sharp fall in Malaysian palm oil prices and weak demand in local spot markets as buyers deferred purchases.
* Soybean futures fell, tracking a drop in the U.S. market and as supplies from the new crop started arriving in local markets. Rapeseed fell on an expected rise in production.
* The November soyoil contract on the National Commodity and Derivatives Exchange (NCDEX) fell 4 percent to close at 626.95 rupees per 10 kg, after falling to 627 rupees earlier in the session.
* The November soybean contract dropped 3.96 percent to close at 3,076 rupees per 100 kg, after falling to 3,075 rupees earlier in the day, while rapeseed fell 2.98 percent to 3,810 rupees per 100 kg after hitting a fresh contract low of 3,797 rupees.
* At the Indore spot market in Madhya Pradesh, soyoil plunged 39.3 rupees to 680.55 rupees per 10 kg, while soybeans dropped 192 rupees to 3,086 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed fell 117.5 rupees to 3,920 rupees.
Chana futures fell to a fresh contract low due to expectations of increased sowing of the crop and weak spot demand from millers and retailers.
* The key November chana contract on the NCDEX fell 1.26 percent to close at 4,160 rupees per 100 kg, after hitting a contract low of 4,087 rupees.
* In the Delhi spot market, chana dropped 97 rupees to 4,303 rupees per 100 kg.
Indian sugar futures fell after millers lowered prices in an attempt to sell the allocated quota for October-November and as imports of raw sugar depressed the sentiment further.
* The key November contract on the NCDEX fell 2.13 percent to close at 3,357 rupees per 100 kg.
* At the Kolhapur spot market in Maharashtra state, sugar fell 10 rupees to 3,618 rupees per 100 kg.
Jeera, or cumin seed, futures ended flat as thin spot supplies offset sluggish exports and prospects of better sowing after the monsoon revived late in the season.
* The October jeera contract on the NCDEX edged up 0.07 percent to close at 13,637.5 rupees per 100 kg.
* At Unjha, a key market in Gujarat, spot jeera fell 19 rupees to 14,418.5 rupees per 100 kg.
Turmeric futures ended slightly up in a range-bound trade on some local buying, but higher stocks and weak demand from overseas buyers weighed on the sentiment.
* The October turmeric contract on the NCDEX ended 0.11 percent up at 5,660 rupees per 100 kg.
* The acreage under turmeric cultivation is lower compared with last year, but delayed rains have helped the crop.
* Turmeric is planted between June and August and is harvested after nine months.
Pepper futures ended flat on lacklustre trade due to higher prices, though limited domestic supplies and less stocks supported prices.
* The most active October contract on the NCDEX closed 0.09 percent higher at 43,435 rupees per 100 kg.
* In Kochi, spot pepper fell 105 rupees to 42,106 rupees per 100 kg. (Reporting by Meenakshi Sharma; Editing by Subhranshu Sahu)
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