India is the world's biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.
For delivery in January, cottonseed oil cake gained Rs 32, or 1.5 percent, to Rs 2,165 per quintal with an open interest of 19,020 lots.
Reductions will include positions at Imperial Oil Ltd , ExxonMobil Canada Ltd and ExxonMobil Business Centre Canada ULC, the company said.
Brent was up by 20 cents, or 0.4%, at $48.81 a barrel, after rising around 1.6% in the previous session. West Texas Intermediate crude was up by 14 cents, or 0.3%, at $45.85, having gained 1.8% on Wednesday.
Under the Paris climate agreement, India has pledged to reduce the emissions intensity of its GDP by 33-35% from 2005 levels, and achieve about 40% cumulative electric power generation capacity from non-fossil fuels by 2030. It has set the ambitious target for achieving a total installed RE capacity of 175,000 MW by 2022, with 100,000 MW coming from solar and 60,000 MW from wind.
West Texas Intermediate crude gained 58 cents, or 1.3%, to $45.49, after rising more than 4% on Tuesday.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Refined soya oil contracts for January delivery rose by Rs 2.1, or 0.2 percent, to Rs 1,053 per 10 kg in 12,725 lots.
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