CORRECTED-VEGOILS-Palm falls on weak rival oil prices and muted demand

(Corrects paragraph 7 to show Chicago soyoil price fell 0.79%, not 0.88%; Dalian soyoil fell 2.19%, not 0.72%; and Dalian palm oil fell 2.95%, not 1.81%) JAKARTA, Jan 16 (Reuters) - Malaysian palm oil futures fell for a third straight session on Thursday and ended at their lowest closing price in more than three months, dragged down by weakness in rival vegetable oils and muted demand. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange lost 86 ringgit, or 2.01%, to 4,182 ringgit ($929.33) a metric ton at closing. "Today's crude palm oil drop is tracking Dalian performance due to festivity season ending soon," a Kuala Lumpur-based trader said, adding that weak demand pressured the contract. Exports of Malaysian palm oil products during Jan. 1-15 are estimated to have fallen between 15.5% and 23.7%, according to cargo surveyors Intertek Testing Services and independent inspection company AmSpec Agri Malaysia. India's palm oil imports are set to plunge to a near five-year low in January, hit by negative refining margins as the tropical oil's premium over rivals drives buyers to more competitively priced soyoil, government and industry officials told Reuters. Expectations of improving Malaysian palm oil production in the coming months due to good weather also dragged prices lower, the trader said. Soyoil prices on the Chicago Board of Trade BOc2 shed 0.79%. Dalian's most active soyoil contract DBYcv1 lost 2.19% and its palm oil contract DCPcv1 fell by 2.95%. Palm oil tracks price movements in rival edible oils as it competes for a share of the global vegetable oils market. ($1 = 4.5000 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/42dVXXt ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Savio D'Souza, Sumana Nandy, Shreya Biswas and David Goodman ) (([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 ))