VEGOILS-Palm ends lower on rival soyoil, lack of fresh demand weighs

(Updates for market close) By Dewi Kurniawati JAKARTA, Jan 15 (Reuters) - Malaysian palm oil futures closed lower on Wednesday, tracking rival soyoil's weakness in Dalian and Chicago markets and lack of fresh demand. The benchmark palm oil contract FCPOc3 for March delivery on the Bursa Malaysia Derivatives Exchange lost 75 ringgit, or 1.69%, to 4,362 ringgit ($969.98) a metric ton at the close. "The futures have been pressured by lack of fresh demand from the market, which will continue in the next two to three months until March," said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari. Soyoil prices on the Chicago Board of Trade BOcv1 fell 0.5%. Dalian's most-active soyoil contract DBYcv1 down 0.44%, while its palm oil contract DCPcv1 slipped 2.77%. Palm oil tracks price movements in rival edible oils as it competes for a share of the global vegetable oils market. Cargo surveyors estimated Malaysian palm oil exports to have fallen between 15.5% and 23.7% during Jan. 1-15, from a month earlier. India's palm oil imports in December plunged 41% month on month to a nine-month low, as prices touching a 2-1/2-year high prompted refiners to stock up on rival soyoil available at a discount, a leading trade body said. Oil prices rose on Wednesday, trimming losses from the previous day, as the focus turned back to potential supply disruptions from sanctions on Russian tankers, though gains were capped as the market awaited more clarity on their impact. O/R Higher crude oil futures make palm a more attractive option for biodiesel feedstock. The Malaysian ringgit MYR= , palm's currency of trade, traded largely flat against the U.S. dollar. ($1 = 4.4970 ringgit) (Reporting by Dewi Kurniawati; Editing by Sonia Cheema, Rashmi Aich and Vijay Kishore) (([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 ))