02/02/2017 (Reuters) - Indian sugar and rapeseed futures rose in heavy trading on Wednesday after Finance Minister Arun Jaitley unveiled the annual federal budget.

The March sugar futures rose 0.8 percent to 3,833 rupees ($56.81) on the National Commodity & Derivatives Exchange Ltd (NCDEX), as clarity emerged about the excise duty on sugar, a Delhi-based trader said.

Some traders were expecting the government to abolish the excise duty in the budget, he said.

The government currently levies a cess of 124 rupees per 100 kg of sugar produced in the country.

RAPESEED, SOYOIL

The most actively traded rapeseed contract closed 0.8 percent higher at 3,863 rupees, while the soyoil contract was largely flat at 698 rupees per 10 kg as of 1215 GMT.

"Today's rapeseed and soyoil price movements reflect the government's decision to not slash import duty on palm oil and soy oil as the industry had expected," said a trader from central India.

"There is a 10 percent upside potential to the price of rapeseed."

SOYBEAN, CORN

The February soybean futures contract rose about 0.3 percent to 3,044 rupees per 100 kg, while the February corn futures rose marginally to 1,457 rupees.

($1 = 67.4650 Indian rupees)