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Indian rapeseed hits 9-month high on demand; soyoil firm

MUMBAI, Oct 28 (Reuters) - Indian rapeseed futures jumped two percent on Monday to their highest level in more than nine months on good demand in spot markets from stockists ahead of the winter season.

* Soybeans and soyoil also rose on thin supplies and good demand due to a festival.

* At 0807 GMT, the rapeseed contract for November on the National Commodity and Derivatives Exchange was up 2.24 percent at 3,795 rupees ($61.61) per 100 kg. It jumped to 3,798 rupees earlier in the day, the highest level since Jan. 18.

* "In spot markets, oil mills are actively buying rapeseed for the winter season. Supplies are moderate and likely to come down in the coming weeks," said Nalini Rao, an analyst with India Infoline.

* Rapeseed oil consumption usually rises in India during the winter season.

* The key November soybean contract rose 1.95 percent to 3,797.50 rupees per 100 kg, while the key November soyoil contract was up 1.49 percent at 730.70 rupees per 10 kg.

* Soybean supplies have risen in spot markets but are lower than usual as rainfall in the last few weeks disrupted harvesting, Rao said.

* India's soybean production in 2013/14 is likely to drop by 4.4 percent from the previous year to 10.23 million tonnes after heavy rains in growing areas during the harvest season damaged the crop.

* India will celebrate the Hindu festival of Diwali in the first week of November. Demand for edible oil usually rises ahead of the festival.

* At the Indore spot market in Madhya Pradesh, soybeans were up one rupee at 3,684 rupees per 100 kg, while soyoil rose by 0.85 rupee to 724.40 rupees per 10 kg. At Jaipur in Rajasthan, rapeseed jumped 31 rupees to 3,800 rupees. ($1 = 61.5950 Indian rupees) (Reporting by Rajendra Jadhav; Editing by Anupama Dwivedi)