New Delhi, Nov 20 (PTI) Soybean prices jumped 3.08 percent to Rs 2,943 per quintal in futures trading today asspeculators built up fresh bets, in line with positive cuesfrom the spot market after demand grew.
At the National Commodity and Derivatives Exchange,soybean for delivery in December went up by Rs 88, or 3.08 percent, to Rs 2,943 per quintal with an open interest of1,99,320 lots.
Likewise, the oil for delivery in November contractstraded higher by Rs 22, or 0.78 per cent, to Rs 2,832 perquintal in 7,590 lots.
Marketmen said fresh positions created by participants,tracking a firm trend at the spot market on rising demand,influenced soybean prices.
Meanwhile, on Saturday, the Centre raised import duty oncrude palm oil to 30 per cent from 15 per cent and on refinedoil to 40 per cent from 25 per cent in a bid to curb cheapershipments and boost local prices for supporting farmers andrefiners, according to a notification.
Import duty on soyabean oil, sunflower oils,canola/mustard oils -- both crude and refined format -- hasbeen raised, the notification released by the Central Board ofExcise and Customs (CBEC) said.
Import duty on soyabean has also been increased. PTI KPSDPARD.
This is unedited, unformatted feed from the Press Trust of India wire.