MUMBAI, Jan 4 (Reuters) - India's cottonseed oilcake, or kapaskhali, futures ended lower on Monday 4 January on increased supply, but rising exports of cotton limited losses, analysts said.

Kapaskhali, a by-product of cottonseed, is used as cattle feed and largely consumed in the north-western states of India.

Crushing season has begun supplies have increased, said Mehul Agrawal of Sharekhan Commodities.

The most-active January contract has risen more than 9 percent since the beginning of November.

Prices may come down further in the short term due to weak spot demand and availability of alternate cattle feed in the market, Agrawal added.

The January contract NCDF0 ended at 1,197 rupees per 100 kg, down 0.54 percent.

Indian traders have exported 428,076 bales of raw cotton of 170 kg each in the first two months of the 2009/10 marketing year, up 19 percent from a year ago.

Cotton year runs between October and September.

India's cotton exports in 2009/10 are expected to increase 57 percent to 5.5 million bales, according to A.B. Joshi, textile commissioner and chairman of Cotton Advisory Board (CAB).

(Reporting by Meenakshi Sharma & Sourav Mishra; Editing by Harish Nambiar)