VEGOILS-Palm climbs on stronger Dalian palm olein

(Updates for mid-session trading, adds trader's comment) KUALA LUMPUR, March 12 (Reuters) - Malaysian palm oil futures rose on Wednesday, snapping two straight sessions of losses, as stronger Dalian palm olein prices underpinned the market. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange gained 22 ringgit, or 0.49%, to 4,510 ringgit ($1,018.06) a metric ton by the midday break. The contract fell 2.96% in the last two sessions. The recovery in Dalian palm olein is lending support to the crude palm oil prices, with the spot month March contract holding firm and providing additional price support, a Kuala Lumpur-based trader said. Dalian's most-active soyoil contract DBYcv1 fell 0.81%, while its palm oil contract DCPcv1 gained 0.83%. Soyoil on the Chicago Board of Trade BOcv1 rose 0.24%. Palm oil tracks movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices edged up, helped by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains. O/R Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit MYR= , palm's currency of trade, weakened 0.45% against the U.S. dollar, making the commodity cheaper for buyers holding foreign currencies. India's palm oil imports in February jumped 35.7% on-month to 373,549 metric tons, the Solvent Extractors' Association of India (SEA) said. Prices of cooking oil could be buoyed up for years by stagnating production and a biodiesel push in top producer Indonesia that are making traditionally cheap palm oil costlier, eliminating an advantage that also curbed prices of rival oils. Palm oil still targets 4,360 ringgit per metric ton, as pointed by a rising trendline, Reuters technical analyst Wang Tao said. TECH/C ($1 = 4.4300 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ tech https://tmsnrt.rs/3XMBPZx ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Mrigank Dhaniwala and Sumana Nandy) ((ashley.tang@thomsonreuters.com;)) ((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 ))