Indian oilseeds and soyaoil futures rose on Friday following firm cues from the international market while lesser area under rapeseed cultivation was supporting sentiment. Malaysian palm oil futures bounced back from their lowest since mid-December on Friday as traders closed short positions ahead of the long weekend, but were down for a third week in a row on weakness in demand for the edible oil.
At 1250 GMT, the key February soyaoil contract on the National Commodity and Derivatives Exchange (NCDEX) was 1.13 percent up at 616 rupees per 10 kg. The February soyabean contract closed 2.16 percent higher at 3,405 rupees per 100 kg, while the April rapeseed contract rose 1 percent to 3,345 rupees per 100 kg.