MUMBAI, March 18 (Reuters) - India soybean futures fell on Wednesday on rising arrivals of winter-sown oilseeds like rapeseed, but firm spot and Malaysian palm oil prices limited the losses, analysts said.
A one-year extension of a ban on vegetable oil exports to March 2010 also weighed on the markets. See[ID:nBMA002557]
However, rapeseed futures were almost steady as higher arrivals were offset by firm demand from millers and traders, who are buying to meet their annual requirements and on expectations of a lower-than-expected output in 2008/09.
At 1:45 p.m., April soybean NSBJ9 on the National Commodity and Derivatives Exchange was down 0.34 percent to 2,335 rupees per 100 kg, while June rapeseed NRSM9 steady was at 464.25 rupees per 20 kg.
Soybean spot prices in Nagpur rose 2.4 percent to 21,500 rupees per tonne.
Rapeseed arrivals on Wednesday was steady at 400,000 bags of about 85 kg each in Rajasthan, the largest producer.
India's rapeseed output may be lower at 6 million tonnes compared with earlier estimates of 6.4 million tonnes and the oil content in the seeds may fall because of a warm winter in growing areas, an industry official told Reuters on Monday.
At 1:50 p.m., benchmark June palm oil KPOc3 on the Bursa Malaysia Derivatives Exchange edged up 0.1 percent at 1,924 ringgit a tonne.
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