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AGRI WRAP-India soyoil, sugar, chick peas up on festive demand
MUMBAI Oct 15 (Reuters) - Indian soyoil futures recouped early losses and ended up on Monday on an expected rise in consumer demand due to festivals, while soybean shed more than 1 percent on higher supplies from the new crop in local markets.
* The November soyoil contract on India's National Commodity and Derivatives Exchange closed up 0.35 percent at 646.25 rupees per 10 kg.
* The November soybean contract fell 1.63 percent to 3,117 rupees per 100 kg, while rapeseed rose 2.16 percent to 4,248 rupees per 100 kg.
* India imported 111,163 tonnes of refined palm oil in September, up 39.9 percent from August, on higher purchases by traders ahead of the festive season.
* Indians will celebrate Dussehra this month and Diwali in November. Demand for edible oils usually rises during these festivals.
* At the Indore spot market in Madhya Pradesh, soyoil edged down 5.95 rupees to 666.75 rupees per 10 kg, while soybeans fell 60 rupees to 3,131 rupees per 100 kg.
Indian sugar futures closed marginally up after touching their highest level in more than a week on rise in physical demand with approaching festival season.
* The key November contract closed up 0.08 percent at 3,362 rupees per 100 kg after rising to 3,380 rupees earlier in the day.
* At the Kolhapur spot market in Maharashtra state, sugar jumped 23 rupees to 3,550 rupees per 100 kg.
Indian chick peas, or chana, futures rose, tracking firm trend in spot markets where rising consumer demand ahead of festival season and thin supplies pushed the prices up, though prospects of better sowing limited the upside.
* The key November chana contract closed up 0.06 percent at 4,808 rupees per 100 kg.
* In the Delhi spot market, chana rose 61 rupees to 4,761 rupees per 100 kg because of festive buying.
* Chana is a rabi crop sown in October and it depends on the monsoon for soil moisture.
Indian jeera, or cumin seed, futures rose on a pick-up in festive buying amid thin local supplies.
* The November jeera contract on the NCDEX ended 3.38 percent higher at 15,445 rupees per 100 kg.
* At Unjha, spot jeera rose 37.5 rupees to 14,105.7 rupees per 100 kg.
* "Local demand is improving because of the approaching festivals. In coming days, jeera prices are expected to stay firm, said Jay Kumar Jain, a trader from Unjha, a key market in Gujarat.
Pepper futures fell due to sluggish demand from the overseas buyers and lacklustre trade in the local market.
* Revived rains in the month has reduced the expected shortfall in pepper output by helping the growth of pepper vines, traders said.
* The most-active November contract on the NCDEX fell 0.79 percent to close at 43,240 rupees per 100 kg.
* In Kochi, spot pepper fell 231 rupees to 42,289 rupees per 100 kg.
* "Higher prices of Indian origin pepper in the global market has dampened its demand. Any sharp upside could not be seen unless some export demand comes in," said Manikant Khona, a trader from Kochi, a key market in Kerala.
Indian turmeric futures rose on hopes of a pick-up in local demand due to festive season though high inventories limited the upside.
* The November turmeric contract on the National Commodity and Derivatives Exchange (NCDEX) rose 0.81 percent to close at 5,494 rupees per 100 kg.
* "Demand is moderate but expected to pick-up in coming days because of festivals," said Suresh Chowdhary, a trader from Nizamabad, a key market in Andhra Pradesh. (Reporting by Deepak Sharma; Editing by Anand Basu)
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