Nov 1 (Reuters) - Indian soyoil futures rose on Friday to hit their highest level in 13 months, bolstered by gains in overseas edible oil prices, a weak rupee and good demand in local spot markets due to a festival. * Soybean futures hit a four-month high on strong demand amid limited supplies. * Malaysian palm oil futures briefly rose to a fresh one-year high on Friday, as strong Asian demand coupled with lower production expectations supported prices. * At 0857 GMT, the key November soyoil contract on the National Commodity and Derivatives Exchange was up 0.90 percent at 755.60 rupees per 10 kg. It rose to 756.80 rupees earlier, the highest level since Sept. 20, 2012. * "Cost of imports is rising due to a weak rupee and a rally in overseas palm oil prices," said Isha Trivedi, an analyst at Phillip Commodities India Pvt Ltd. * "Soyoil supplies are also not rising as per expectations. Oil mills are not getting enough soybean to operate plants with full capacity." * The key November soybean contract rose 0.13 percent to 3,920 rupees per 100 kg, after rising to 3,934.50 rupees earlier, the highest level since June 20. * The rapeseed contract for November was up 1 percent at 3,834 rupees per 100 kg. * 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. * A weak rupee makes edible oil imports expensive, but raises returns of oilmeal exporters. The rupee fell on Friday. * At the Indore spot market in Madhya Pradesh, soybeans edged up 4 rupees to 3,850 rupees per 100 kg, while soyoil rose by 7.70 rupees to 749.50 rupees per 10 kg. At Jaipur in Rajasthan, rapeseed edged down one rupee to 3,824 rupees. (Reporting by Rajendra Jadhav; Editing by Anand Basu)

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