India oilseeds seen higher on global cues.

MUMBAI, April 16 (Reuters) - Indian oilseed futures are likely to open higher on Friday buoyed by overnight gains in the U.S. soybean market and concerns over domestic rapeseed output, analysts said.

U.S. soybean futures rose 1.6 percent on Thursday, closing at their highest level in more than three months as prices breached key resistance points amid heavy technical buying, traders said.

Soyoil futures are likely to edge higher on improvement in spot demand due to the ongoing wedding season, they said.

Malaysian palm oil futures were trading 0.20 percent higher at 2,515 ringgit a tonne at 8:50 a.m.

An industry body in early March said the country's rapeseed output in 2010 is expected to rise marginally to 6.3 million tonnes on good weather conditions.

Traders said output may be lower than estimates, considering the arrivals in spot market.

The May rapeseed contract NRSK0 on the National Commodity and Derivatives Exchange ended up 0.95 percent to 507.6 rupees per 20 kg in the previous session.

The May soybean contract NSBK0 ended 1 percent higher at 1,995 rupees per 100 kg, while the May soyoil NSOK0 finished 0.13 percent up at 450.35 rupees per 10 kg.

India's vegetable oil imports fell for the third straight month in March, due to higher stocks following heavy purchases in the first quarter of the current year from November, a leading trade body said on Tuesday. See [ID:nSGE63C09P]

The country's March oilmeal exports slumped 34 percent from a year earlier, falling for the fifth straight month, due to weak demand from Vietnam, Japan, South Korea, Indonesia, Thailand and China, a trade body said.

Source : REUTERS