India Soybean futures fall 1%, mustard 0.7%.

Futures contracts of all components in the edible oil basket declined on domestic exchanges as there was no fresh development on the anticipated hike in the import duty on oilseeds The industry had demanded a hike in import duty on edible oils to support the prices of home-grown oilseeds. Soybean on National Commodity and Derivatives Exchange ended around 1% lower because of higher arrivals of fresh crop in key mandis. India’s vegetable oil imports rose around 5% on year to 15.4 million metric tonne in the year-ended October. Palm oil imports rose marginally to 9.3 million metric tonne compared with 8.4 million metric tonne during the previous year.