VEGOILS-Malaysian palm rises for second session on strong Dalian oils

(Update with closing prices, adds details) JAKARTA, March 27 (Reuters) - Malaysian palm oil futures rose for the second straight session on Thursday, tracking strength in the Dalian market, as China makes a shift to buying palm oil amid a trade war with Canada. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange gained 54 ringgit, or 1.27%, to 4,313 ringgit ($973.81) a metric ton at closing. "Palm prices are supportive due to the ongoing China-Canada trade traffic on canola oil. China has, therefore, shifted to buying palm," a Kuala Lumpur-based trader said. Palm oil contract on the Dalian Commodity Exchange DCPcv1 gained 0.54%, while its most-active soyoil contract DBYcv1 was up 0.48%. Soyoil prices on the Chicago Board of Trade (CBOT) BOc2 were up 0.72%. Indonesia raised its crude palm oil reference price for April to $961.54 a metric ton. The new price will leave the export tax for April unchanged at $124 a ton. The country also currently imposes a 7.5% levy for CPO exports and a levy for more refined palm oil products of between 3% and 6% of the reference price. Indonesia's palm oil inventory at the end of January rose by 13.98% from the previous 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. Meanwhile, exports of Malaysian palm oil products for March 1-25 dropped 8.1% to 835,732 metric tons month-on-month, cargo surveyor Intertek Testing Services said on Tuesday, while independent inspection company AmSpec Agri Malaysia estimated exports to have fallen 8.5% in the same period. ($1 = 4.4290 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/434tYdg ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Sonia Cheema and Shounak Dasgupta) ((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 ))