VEGOILS-Palm trades lower on Chicago soyoil, concerns over economic headwind

(Updates with midday break prices, analyst comment) By Dewi Kurniawati JAKARTA, April 14 (Reuters) - Malaysian palm oil futures extended losses on Monday, tracking weakness in rival soyoil in the Chicago market, while escalating U.S.-China trade tensions despite a temporary suspension of tariffs on other countries also weighed on sentiment. The benchmark June palm oil contract FCPOc3 on the Bursa Malaysia Derivatives Exchange lost 45 ringgit, or 1.07%, to 4,167 ringgit ($943.19) a metric ton by the midday break. "Following the 90-day tariff suspension by the U.S., concerns over broader economic headwinds and lingering uncertainties have continued to cap any meaningful upside," said Darren Lim, a commodities strategist at Singapore-based brokerage Phillip Nova. The downward pressure seen this morning suggests that traders remain unconvinced about the long-term impact of the suspension, he added. Dalian's most-active soyoil contract DBYcv1 added 0.52%, while its palm oil contract DCPcv1 lost 0.46%. Soyoil prices on the Chicago Board of Trade (CBOT) BOcv1 fell 0.59%. Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market. India's palm oil imports in March rose about 14% from the previous month to 424,599 tons, a trade body said on Friday. Independent inspection company AmSpec Agri Malaysia said exports of Malaysian palm oil products for April 1-10 rose 52.8% to 301,113 tons, while according to cargo surveyor Intertek Testing Services it rose 29.3% to 323,160 tons. Oil prices fell on concerns the escalating trade war between the United States and China would weaken global economic growth and dent fuel demand. O/R Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The ringgit MYR= , palm's currency of trade, slipped 0.05% against the U.S. dollar, making the commodity cheaper for buyers holding foreign currencies. ($1 = 4.4180 ringgit) (Reporting by Dewi Kurniawati; Editing by Rashmi Aich) ((Dewi.Kurniawati@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 ))