MUMBAI, Jan 22 (Reuters) - India soybean futures extended its losing streak into a fourth consecutive day on Friday afternoon tracking weakness in overseas markets and domestic spot market due to a drop in meal exports, analysts said. At 3:03 p.m., the February soybean contract NSBG0 on the National Commodity and Derivatives Exchange was down 0.82 percent at 2,179 rupees per 100 kg. "Demand from millers is very weak," said an analyst with Angel Commodities. Indian millers say since oil and meal do not command good prices, processing soybean is economically unviable. Soybean is crushed to produce soyoil and soymeal. In Nagpur spot market in Maharashtra, second biggest soybean producer, the price dropped by 30 rupees to 2,212.5 rupees. India's oilmeal exports slumped 44 percent to 395,663 tonnes in December from 708,631 tonnes a year earlier, a leading trade body said on Jan 6. See [ID:nBMA006705] Malaysian crude palm oil futures dropped 1.4 percent on Friday along with other vegetable oil markets on a new U.S. proposal to limit financial risk taking. See [ID:nSGE60L076] (Reporting by Rajendra Jadhav; Editing by Prem Udayabhanu)

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