India soyoil drops, rapeseed, chana rise on output concerns

MUMBAI, Jan 20 (Reuters): Indian soyoil futures extended losses on Tuesday on higher imports of palm oil, while soybeans ended steady as thin supplies offset subdued export demand for soymeal.
Rapeseed futures rose on an expected drop in production.
At 1200 GMT, the key February soyoil contract on the National Commodity and Derivatives Exchange (NCDEX) was 0.33 per cent down at 645 rupees per 10 kg.
Indian palm oil imports rose 5 per cent to 836,447 tonnes in December from a month earlier because of tight supplies of local soyoil plus the decision by big producers to allow duty-free exports of palm oil.
The February soybean contract closed 0.06 per cent lower at 3,458 rupees per 100 kg, while the April rapeseed contract rose 0.84 per cent to 3,498 rupees per 100 kg.
Soybean and soyoil futures are likely to edge higher in the next session.
Indian jeera, or cumin seed, futures fell on profit-taking after jumping 4 per cent in the previous session on an estimated drop in production.
 The key February jeera contract dropped 0.68 per cent to close at 16,720 rupees per 100 kg. The contract is likely to open up in the next session. Chana, or chickpea, futures extended gains on a sharp drop in area under cultivation.
As on January 16, farmers have cultivated chana on 8.2 million hectares, compared to 9.8 million hectares a year ago.
The February contract closed 0.41 per cent higher at 3,424 rupees per 100 kg.
Turmeric futures fell on profit-taking and start of supplies from the new season crop, though a likely drop in production restricted the downside.