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Soybean futures (Jan) is expected to witness a consolidation in the range of 3370- 3435 levels. Soybean traded firm at major spot markets across the country on some good buying from crushers and good domestic and export demand for soybean meal. Soybean arrivals had dropped significantly in the country due to slow farmers selling at lower rates and they are waiting for appreciation in prices. Mustard futures (Jan) is expected to trade sideways in the range of 3925-3980 levels. Mustard seed prices gained further in the spot markets across Rajasthan helped by some revival in demand for mustard oil and mustard cake. Mustard seed 42% condition was priced Rs.15 higher to Rs.4,115-4,120/100kg, while mustard oil (Kachi Ghani) was traded up by Rs.2 to Rs.811-812/10kg. Mustard seed cake also rose by Rs.10 to Rs.1,845-1,850/100kg. CPO futures (Jan) will possibly continue to remain in the recover mode towards 517-520 taking support near 507 levels, while soy oil futures (Jan) is likely to test 733-735 levels. It is reported that India has reduced the duty on crude and Refined palm oil to nor commitments made in a free trade agreement between India and Malaysia. Therefore Duty reduction in Crude Palm oil is 4% and Refined Palm oil is 9%. The government reduced the customs duty on Crude Palm Oil 40% and Refined Palm Oil to 45% vide notification 84/2018 Customs dated 31-12-2018. C certificate of Malaysian Origin is required to avail the duty concessions. In March 2018, India raised the import tax on crude palm oil to 44 per cent from 30 per cent and lifted the tax on refined palm oil to 54 per cent from 40 per cent.
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