Indian soyoil futures edged up on Friday afternoon, tracking firm Malaysian palm oil that climbed on strong December exports, but the rise was limited as state-owned firms and co-operatives released more supplies. At 3:35 p.m. (1005 GMT), January futures NSOF9 on the National Commodity and Derivatives Exchange was up 0.88 percent at 468.8 rupees ($9.7) per 10 kg. The February contract NSOG9 rose 0.89 percent to 447.50 rupees. State-owned firms like PEC Ltd, MMTC Ltd (MMTC.BO: Quote, Profile, Research) and co-operative NAFED have been releasing edible oils like crude soyoil and crude palm oil, which they had imported earlier in the year, putting pressure on spot prices. "The firms have imported huge quantities. This should keep supplies healthy," an edible oil trader in Indore, a hub for soyoil trade in India, said. Spot prices in Indore fell 2.72 percent to 42,800 rupees per tonne. March palm oil futures KPOH9 on Bursa Malaysia Derivatives Exchange ended up 2 percent at 1,590 ringgit a tonne. Soyoil competes with palm oil and their prices often move in tandem. ($1=48.4 rupees) (Reporting by Abhishek Shanker)

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