VEGOILS-Palm slides as Trump tariffs trigger profit booking

(Updates for mid-session trading, adds trader's comment) KUALA LUMPUR, April 3 (Reuters) - Malaysian palm oil futures retreated on Thursday, after a four-session rally, dragged down by profit-taking following U.S President Donald Trump's reciprocal tariffs on trade partners. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange slid 56 ringgit, or 1.24%, to 4,461 ringgit ($1,000.22) a metric ton at the midday break. Crude palm oil futures declined as Trump's fresh tariffs triggered profit-taking, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari. However, Paramalingam anticipates prices will remain relatively resilient in the second quarter of the year as demand picks up in April and May alongside increasing production, which is expected to maintain positive market sentiment. Dalian's most-active soyoil contract DBYcv1 fell 1.45%, while its palm oil contract DCPcv1 shed 1.12%. Soyoil prices on the Chicago Board of Trade (CBOT) BOcv1 fell 1.48%. Palm oil tracks the prices of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices dropped $2 after Trump's tariff announcement, stoking concerns that a global trade war may dampen demand for crude. O/R Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. Trump unveiled a 10% minimum tariff on most goods imported to the U.S., with much higher duties on products from dozens of countries, kicking into high gear a global trade war that threatens to stoke inflation and stall growth. The ringgit MYR= , palm's currency of trade, weakened 0.2% against the U.S. dollar, making the commodity cheaper for buyers holding foreign currencies. Palm oil looks neutral in the 4,500-4,564 ringgit per ton range and an escape could suggest a direction, Reuters technical analyst Wang Tao said. TECH/C ($1 = 4.4600 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/4272CCJ ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Rashmi Aich and Sumana Nandy) ((ashley.tang@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 ))