India oilseeds futures ease on weak Malaysian palm
MUMBAI, July 25 (Reuters) - Indian soybean and rapeseed futures eased on Friday on weak palm oil futures in Malaysia but better demand in the spot market limited losses, analysts said.
At 2:13 p.m, soybean September futures NSBU8 on the National Commodity and Derivatives Exchange were down 0.26 percent at 2,540 rupees per 100 kg.
The rapeseed November futures NRSX8 were at 648.5 rupees per 20 kg, down 0.65 percent.
Palm oil October futures KPOc3 fell 1.06 percent to 3,080 ringgit at 2:15 p.m.
Soybean and rapeseed are crushed to derive soyoil and rapeseed oil, which compete with palm oil and their prices usually move in tandem.
Soybean spot prices in Jaipur rose 0.20 percent to 25,350 rupees per tonne, but spot prices of rapeseed eased 0.16 percent to 3,215 rupees per 100 kg. (Reporting by Abhishek Shanker; editing by Sunil Nair)
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