India oilseed seen down, following Malaysia palm

MUMBAI, April 27 (Reuters) - Indian oilseed futures may trade lower on Monday tracking weakness in Malaysian palm oil futures, analysts said.

Soybean is crushed to produce soyoil and palm oil is used as a substitute for soy oil. India is a major importer of edible oils.

The June soybean contract NSBM9 on the National Commodity and Derivatives Exchange last ended at 2,739.5 rupees per 100 kg, down 2.4 percent.

The June soyoil NSOM9 closed down 0.39 percent at 506.05 rupees per 10 kg.

At 9:26 a.m. the benchmark July palm oil futures KPOc3 on Bursa Malaysia Derivatives Exchange was down was down 3.75 percent at 2,488 ringgit a tonne.