Indian soyoil futures rise for second straight session

NEW DELHI: Indian soyoil futures were set to close higher for a second straight session on Tuesday, tracking related oils overseas and rival Malaysian palm.

The October soybean oil contract on the Chicago Board of Trade was up 1.3 percent, while the January soybean oil on the Dalian Commodity Exchange gained 1.1 percent.

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange closed 2 percent higher.

Indian August soyoil futures were up 0.6 percent at 643.50 rupees ($10.10) per 10 kg on the National Commodities and Derivatives Exchange at 1154 GMT.

Rapeseed futures closed 0.2 percent higher at 3,678 rupees, while the August soybean futures closed 0.3 percent down at 2,968 rupees.