India soybean, rapeseed up on firm demand, palm oil

MUMBAI, March 5 (Reuters) - India soybean and rapeseed futures edged up on Thursday tracking firm demand in the spot market and on gains in Malaysian palm oil, but higher arrivals of winter-sown oilseeds limited the gains, analysts said.

At 2:38 p.m., April soybean NSBJ9 on the National Commodity and Derivatives Exchange was up 0.22 percent at 2,323.5 rupees per 100 kg.

Prices in the spot market in Indore, a hub for soybean trade in India, rose 1.35 percent to 22,600 rupees per tonne.

Demand for rapeseed rose as millers bought heavily to meet their annual requirements. But higher arrivals limited the gains.

Rapeseed arrivals in Rajasthan, the largest producer, rose to over 315,000 bags of about 85 kg on Thursday, up from about 240,000 bags in the previous session, traders said.

June rapeseed futures NRSM9 was up 0.83 percent at 459 rupees per 20 kg.

Firm Malaysian palm oil supported local prices.

At 2:41 p.m., benchmark May palm oil KPOc3 on the Bursa Malaysia Derivatives Exchange was at 1,919 ringgit a tonne, up 0.89 percent. (Reporting by Abhishek Shanker; Editing by Prem Udayabhanu)