Indian oilseeds, soyoil ease on weak demand, global cues.

Jan 10 - Indian oilseeds and soyoil futures eased on Friday on sluggish demand and ahead of a key demand-supply report due later in the day that is expected to show higher production estimates for oilseeds.

However, losses were capped on India's decision to raise import duties on refined edible oils, including palm oil. The government increased import duties to 10 percent from 7.5 percent to protect local oilseed growers and refiners against cheaper supplies from major exporters.

The U.S. Department of Agriculture will issue its latest World Agricultural Supply and Demand Estimates at 1700 GMT. The estimates are expected to show an increase in world corn and soybean inventories, according to a Reuters poll of analysts.

"Duty hike has changed sentiments a bit, but the market is keenly awaiting the USDA report. It will set the tone of the market in the short term," said Isha Trivedi, an analyst with Phillip Commodities India Pvt Ltd.

At 0832 GMT, the key February soybean contract was lower 0.37 percent at 3,641.5 rupees ($58.67) per 100 kg on the National Commodity and Derivatives Exchange.

India's soymeal exports fell 10.32 percent to 451,314 tonnes in December from a month ago.

Malaysian palm oil futures edged down on Friday, hovering near two-month lows and stretching losses into a seventh day.

The February soyoil contract fell 0.57 percent to 671.75 rupees per 10 kg, while the rapeseed contract for January was down 0.50 percent at 3,570 rupees per 100 kg.

India's rapeseed production is unlikely to rise in 2014 despite increased plantings as cold weather in the top producing region is seen denting yields, forcing the country to raise imports of palm and sunflower oil.

At the Indore spot market in Madhya Pradesh state, soybeans eased 4 rupees to 3,735 rupees per 100 kg. At Jaipur in Rajasthan, rapeseed fell 13 rupees to 3,597 rupees.

Source : in.reuters.com