VEGOILS-Palm rises for third straight session, tracks rival oils higher

(Update with midday prices, add analyst's comment) JAKARTA, Jan 21 (Reuters) - Malaysian palm oil futures climbed for a third straight session on Tuesday, supported by strength in Dalian and Chicago vegetable oils, although gains were limited by a drop in exports so far this month. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange gained 46 ringgit, or 1.09%, to 4,252 ringgit ($950.81) a metric ton by midday. "Bursa Malaysia CPO tracking gains in Dalian Commodity Exchange and some bargain hunting as well ... but firmer ringgit capping gains," a Kuala Lumpur-based trader said, adding that market participants also awaited production update for Jan. 1-20 period. Dalian's most-active soyoil contract DBYcv1 rose 1.02%, while its palm oil contract DCPcv1 was up 0.52%. Soyoil at the Chicago Board of Trade BOc2 gained 0.2%. Palm oil tracks price movements in rival edible oils as it competes for a share of the global vegetable oils market. Exports of Malaysian palm oil products for Jan. 1-20 are estimated to have fallen between 18.2% and 23%, according to cargo surveyors Intertek Testing Services and independent inspection company AmSpec Agri Malaysia. Palm oil may retest support at 4,106 ringgit per metric ton, as a bounce triggered by this barrier may have completed. TECH/C ($1 = 4.4720 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/42dVXXt ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Savio D'Souza and Eileen Soreng) (([email protected])) ((For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01 . * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 and press enter, or double click between the brackets. * Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils OILS/ASIA1 Malaysian palm oil exports SGSPALM1 CBOT soyoil futures 0#BO: CBOT soybean futures 0#S: Indian solvent SOLVENT01 Dalian Commodity Exchange DC/MENU Dalian soyoil futures 0#DBY: Dalian refined palm oil futures 0#DCP: Zhengzhou rapeseed oil 0#COI: European edible oil prices/trades OILS/E ))