Indian soyaoil and oilseeds futures rose on Tuesday because of buying at lower levels and also in line with the benchmark Malaysian palm oil contract. Malaysian palm oil futures rebounded to snap four days of declines but remained not far off their lowest in almost six weeks as a big domestic crop, poor demand and weak competing oil prices put pressure on the edible oil.
At 0105 GMT, the key February soyaoil contract on the National Commodity and Derivatives Exchange (NCDEX) was 0.72 percent up at 621 rupees per 10 kg. The February soyabean contract closed 0.66 percent higher at 3,356 rupees per 100 kg, while the April rapeseed contract rose 0.33 percent to 3,388 rupees per 100 kg. Oilseeds futures are likely to edge up in the next trading session.