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India oilseeds futures fall on stock limit fears

Tue May 13, 2008 2:09pm IST
 
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MUMBAI, May 13 (Reuters) - Indian oilseeds futures fell on Tuesday on profit-taking, triggered by market talk that Maharashtra may impose stock limits on oilseeds and edible oils to control prices and curb inflation, analysts and a trader said.

The western state of Maharastra is the country's second largest soybean producer after the central state of Madhya Pradesh.

At 2:07 p.m., soybean June futures NSBM8 on the National Commodity and Derivatives Exchange fell 0.88 percent to 2,310 rupees per 100 kg. Rapeseed July futures NRSN8 fell 1.43 percent to 598 rupees per 20 kg.

Rapeseed arrivals in Rajasthan, a major producer, eased at 110,00-140,000 bags of about 85 kg each compared to 120,000-150,000 bags arrived on Monday.

Prices of rapeseed in the spot market in Jaipur fell 1.42 percent to 2,770 rupees per 100 kg. (Reporting by Abhishek Shanker; editing by Sunil Nair)

 
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