India oilseeds, soyoil may fall on profit-taking

MUMBAI, April 21 (Reuters) - Indian soybean, rapeseed and soyoil futures may fall on Tuesday on extended profit-taking tracking weakness in Malaysian palm oil and a fall in crude oil prices, analysts said.

Globally, oilseeds and soyoil find use in the bio fuel sector but a fall in crude oil prices lowers the demand from the sector. U.S. crude oil CLc1 had dropped 9 percent in the previous session.

However, the losses may be limited on expectation of a supply squeeze, analysts said.

The May soybean contract NSBK9 on the National Commodity and Derivatives Exchange ended at 2,706 rupees per 100 kg, down 0.97 percent, in the previous session, while May soyoil NSOK9 closed down 0.84 percent at 504.5 rupees per 10 kg.

At 9:22 a.m., the benchmark July palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange was up 1.51 percent at 2,409 ringgit a tonne. (Reporting by Abhishek Shanker; editing by Sunil Nair)