VEGOILS-Palm rises for third straight session, tracks rival oils higher

(Update with closing prices, add details in paragraph 6) JAKARTA, Jan 21 (Reuters) - Malaysian palm oil futures climbed for a third straight session on Tuesday, supported by strength in Dalian and Chicago vegetable oils. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange gained 54 ringgit, or 1.28%, to 4,260 ringgit ($952.38) a metric ton at closing. "Bursa Malaysia crude palm oil (CPO) is tracking gains in Dalian Commodity Exchange and Chicago soyoil, and some bargain hunting as well after holding above 4,200 ringgit," a Kuala Lumpur-based trader said, adding that market participants also awaited production update for Jan. 1-20 period. Dalian's most active soyoil contract DBYcv1 rose 1.73%, while its palm oil contract DCPcv1 was up 0.6%. Soyoil at the Chicago Board of Trade BOc2 surged 1.32%. Palm oil tracks price movements in rival edible oils as it competes for a share of the global vegetable oils market. Malaysian CPO futures are expected to average higher in 2025 than last year, as top producer Indonesia boosts palm oil-based biodiesel consumption, although competition from cheaper rivals is expected to limit the upside, a Reuters poll showed. Exports of Malaysian palm oil products for Jan. 1-20 are estimated to have fallen between 18.2% and 23%, according to cargo surveyors Intertek Testing Services and independent inspection company AmSpec Agri Malaysia. Palm oil may retest support at 4,106 ringgit per metric ton, as a bounce triggered by this barrier may have completed. TECH/C ($1 = 4.4730 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/42dVXXt ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Bernadette Christina; Editing by Savio D'Souza, Eileen Soreng 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 ))