VEGOILS-Palm oil falls on Indonesia export levy uncertainty, US tariff threats

(Updates with midday price, analysts' comments) KUALA LUMPUR, Jan 31 (Reuters) - Malaysian palm oil futures fell on Friday as trading resumed after a two-day Lunar New Year holiday, with uncertainty over Indonesia's export rates and U.S. tariff threats weighing on the market. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange slid 19 ringgit, or 0.44%, to 4,260 ringgit ($963.36) a metric ton by the midday break. The contract has gained 1% so far this week after logging a 0.62% rise last week. The possibility of a 9% to 10% reduction in Indonesian crude palm oil export levies and U.S. President Donald Trump's threat of tariffs on Canada and Mexico have caused market uncertainty, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari. China holiday and weaker Malaysian palm oil exports, coupled with a production recovery last month, provided further concerns, said Anilkumar Bagani, commodity research head at Mumbai-based Sunvin group. The market is now awaiting Malaysian palm oil export and production data for January, Bagani said. Cargo surveyors are expected to release Malaysian palm oil export estimates for January later in the day. Oil prices rose as markets weighed Trump's threat of tariffs on Mexico and Canada that could take effect this weekend. O/R Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Soyoil prices on the Chicago Board of Trade BOcv1 were up 1.22%. The Dalian Commodity Exchange is closed from Jan. 28 to Feb. 4 for the Lunar New Year holidays. Palm oil tracks price movements of rival edible oils, as they compete for a share of the global vegetable oils market. The ringgit MYR= , palm's currency of trade, weakened 0.77% against the dollar, making the commodity cheaper for buyers holding foreign currencies. Palm oil may test resistance at 4,315 ringgit per metric ton, a break above which could open the way towards 4,364 ringgit to 4,425 ringgit range, Reuters technical analyst Wang Tao said. TECH/C ($1 = 4.4220 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3EjL50z ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Danial Azhar; Editing by Eileen Soreng and Subhranshu Sahu) ((danial.azhar@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 ))