Li Keqiang's India Visit
Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office. Full Article | Slideshow
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AGRI WRAP-India soybean hits 1-month high; sugar falls to 3-month low
MUMBAI Oct 19 (Reuters) - Indian soybean futures rose 3 percent on Friday to their highest in nearly a month on good exports demand for soymeal and on a weak rupee, while soyoil edged higher, tracking a rise in Malaysian palm oil.
* Rapeseed futures eased on an expected rise in production due to favourable weather.
* A weak rupee raises margin of oilmeal exporters and at the same time makes edible oil imports costlier. Rupee extended losses on Friday.
* The November soybean contract on the National Commodity and Derivatives Exchange closed up 3.02 percent at 3,308 rupees per 100 kg, after rising to 3,325 rupees earlier in the day.
* The November soyoil contract was up 1.66 percent at 679.6 rupees per 10 kg, while rapeseed eased 0.87 percent to 4,221 rupees per 100 kg.
* At the Indore spot market in Madhya Pradesh, soyoil jumped 9.2 rupees to 682.5 rupees per 10 kg, while soybeans rose 70 rupees to 3,233 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed eased 15 rupees to 4,260 rupees.
Indian sugar futures extended losses to hit their lowest in three months on weak demand and higher quota, while supplies from imports hurt the sentiment further.
* The November contract fell 0.93 percent to 3,295 rupees per 100 kg after touching 3,285 rupees earlier in the day, the lowest level since July 20.
* At the Kolhapur spot market, in the top sugar producing Maharashtra state, sugar dropped 25 rupees to 3,500 rupees per 100 kg.
Indian chick peas, or chana, futures reversed early losses to end up on Friday on strong demand in spot markets from millers and retailers for the forthcoming festivals, while thin supplies limited the downside.
* The key November contract closed up 0.23 percent at 4,824 rupees per 100 kg.
* Analysts expect chana prices to recover from dips and stay firm in the short term ahead of festivals.
* Indians will celebrate Dussehra later this month and Diwali in November. Demand for pulses, including chana, rises during these festivals as families prepare special dishes for get together.
* In New Delhi spot market, chana rose 42 rupees to 4,731 rupees per 100 kg.
Indian jeera, or cumin seed, futures fell on Friday as traders chose to book profit at higher prices, but analysts expect a recovery due to improved spot demand and some overseas enquiries.
* The November jeera contract closed down 1.14 percent at 15,460 rupees per 100 kg.
* The contract has gained more than 12 percent in October on an increase in export demand due to the ongoing civil war in Syria. India is the world's top producer of the spice followed by Syria and Turkey.
* At Unjha, a key market in Gujarat, spot jeera rose 54 rupees to 15,179 rupees per 100 kg.
Indian turmeric futures fell on sluggish demand from overseas buyers and mounting stocks.
* The November turmeric contract closed down 0.27 percent at 5,228 rupees per 100 kg.
* The NCDEX will withdraw the special margin of 20 percent on the long side of November and December turmeric contract effective from Saturday, according to a notification on its website.
* In Nizamabad, a key market in Andhra Pradesh, spot turmeric edged up 2 rupees to 5,024 rupees per 100 kg.
Indian pepper futures rose on thin supplies in spot markets and on depleting stocks, though weak exports weighed on the sentiment.
* The most-active November contract closed up 0.55 percent at 43,515 rupees per 100 kg.
* At Kochi, a key market in Kerala, spot pepper fell 13 rupees to 42,267 rupees per 100 kg. (Reporting by Deepak Sharma; Editing by Anand Basu)
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