With soyabean oil trending lower globally, refined soyabean oil also traded lower on the National Commodities and Derivatives Exchange (NCDEX) on Wednesday afternoon.

The December refined soyabean oil futures were trading at ₹1,173 on NCDEX on Wednesday afternoon against the previous close of ₹1,188, down by 1.25 per cent. The global markets for soyabean oil trended lower due to the record high crushing of soyabeans in the US. In the domestic market, there was an increase in the import of soyabean oil also.

Crude palm oil (CPO) futures also traded lower on the Multi Commodity Exchange (MCX) on Wednesday afternoon. December CPO futures were trading at ₹1061.50 on MCX on Wednesday afternoon as against the previous close of ₹1087.40, down by 2.38 per cent.

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Market participants felt that the price trends in the international markets and the increase in the import of some oils are the reasons for the downtrend in edible oils.

December dhaniya (coriander) futures were trading at ₹9,020 on NCDEX on Wednesday afternoon as against the previous close of ₹8,752, up by 3.06 per cent. According to reports, the sowing of dhaniya is in progress in Gujarat, Madhya Pradesh and Rajasthan. Reports quoted the area under the crop in Gujarat at 1.08 lakh hectares as of December 6, which is 126 per cent of the normal area.

The December natural gas futures were trading at ₹290.80 on MCX on Wednesday afternoon as against the previous close of ₹284.70, up by 2.14 per cent.

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