India soyoil seen up on firm crude; rapeseed may ease

MUMBAI, Feb 26 (Reuters) - India soyoil futures may rise at open on Thursday, helped by firm Malaysian palm oil and as firm crude oil prices led to expectations of possible demand from the bio fuel industry, analysts said.

Prices may also be supported by the spot market where stockists are buying to meet festive demand next month.

Rapeseed prices may ease as arrivals start to peak in largest producer Rajasthan and on expectations of a good crop of about 6.5 million tonnes this year.

Soybean futures may also ease after rising sharply early this week.

At 9:20 a.m., benchmark May palm oil KPOc3 on the Bursa Malaysia Derivatives Exchange was up 1.21 percent at 1,917 ringgit a tonne.

April soybean NSBJ9 on the National Commodity and Derivatives Exchange rose 2.48 percent to 2,338.5 rupees per 100 kg in the previous session, while April soyoil NSOJ9 prices ended up 1.46 percent to 442.65 rupees per 10 kg. (Reporting by Abhishek Shanker; editing by Rohini Ananthan)