VEGOILS-Palm falls on weak rival oil prices, export data

(Updates prices, adds analyst comments) JAKARTA, Jan 16 (Reuters) - Malaysian palm oil futures fell to the lowest in more than three months on Thursday, dragged down by weakness in rival vegetable oils and low export in the first half of January. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange lost 61 ringgit, or 1.43%, to 4,207 ringgit ($935.93) a metric ton by midday. "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. Expectation of improving Malaysian palm oil production in coming months due to good weather also dragged prices lower, the trader said. Soyoil prices on the Chicago Board of Trade BOc2 shed 0.88%. Dalian's most-active soyoil contract DBYcv1 lost 0.72%, while its palm oil contract DCPcv1 fell 1.81%. Palm oil tracks price movements in rival edible oils as it competes for a share of the global vegetable oils market. ($1 = 4.4950 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/42dVXXt ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Savio D'Souza and Sumana Nandy) (([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 ))