VEGOILS-Malaysian palm gains for the week on strong physical demand, Dalian oils

(Update with closing prices) JAKARTA, March 28 (Reuters) - Malaysian palm oil futures rose for a third straight session on Friday, supported by strong demand ahead the Islamic holiday of Eid al-Fitr and on strong rival vegetable oils. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange gained 108 ringgit, or 2.5%, to 4,420 ringgit ($996.62) a metric ton at the close. The contract gained 1.03% for the week, its first weekly gain in three. "Today, crude palm oil future is up on the back of strong physical demand due to next week's holiday and supported by strong Dalian prices," a Kuala Lumpur-based trader said. Bursa Malaysia will be closed on Monday and Tuesday if Eid falls on Monday, March 31, but the financial markets will operate under normal trading hours on Monday should Eid fall on Tuesday, April 1. The most-active soyoil contract in the Dalian Commodity Exchange DBYcv1 was up 1.09%, while its palm oil contract DCPcv1 surged 2.5%. Soyoil prices on the Chicago Board of Trade (CBOT) BOc2 fell 0.2%. U.S. oil and biofuels producers have agreed in principle to raise the mandate for renewable diesel and biodiesel from its current level of 3.35 billion gallons, sources said. Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market. Indonesia raised its crude palm oil reference price for April to $961.54 a metric ton. Indonesia's palm oil inventory at the end of January rose by 13.98% month-on-month despite a drop in production as exports fell to a four-month low, data from the Indonesian Palm Oil Association (GAPKI) showed on Thursday. ($1 = 4.4350 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/434tYdg ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Sonia Cheema and Sumana Nandy) ((Bernadette.christina@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 ))