VEGOILS-Palm tumbles as concerns over Trump's tariff weigh on soyoil and crude oil

(Updates for market close) KUALA LUMPUR, April 4 (Reuters) - Malaysian palm oil futures declined on Friday, pressured by weaker Chicago soyoil and crude oil prices as U.S. President Donald Trump's reciprocal tariffs fuelled uncertainty around global trade. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange closed down 160 ringgit, or 3.56%, to 4,329 ringgit ($976.32) a metric ton. The contract fell 2.04% this week, erasing the previous week's gains. Crude palm oil futures tracked weaker crude and soybean oil prices due to uncertainty about global trade following Trump's tariff announcement, a Kuala Lumpur-based trader said. "Liquidations were heavy last night and have continued through midday today. While the physical market remains strong, futures are trading on a weaker note," the trader said. Soyoil prices on the Chicago Board of Trade (CBOT) BOcv1 eased 2.25%. The Dalian Commodity Exchange is closed for the Qingming Festival and will reopen on Monday. Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices were heading towards their lowest close since the midst of the coronavirus pandemic in 2021 on Friday, hit by Trump's barrage of new tariffs and output increases announced by the OPEC+ producer group. O/R Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. Several countries have threatened to wage a trade war with the U.S. as Trump's tariffs fed expectations for a global downturn and sharp price hikes for swathes of goods in the world's biggest consumer market. The ringgit MYR= , palm's currency of trade, strengthened 0.14% against the U.S. dollar, making the commodity more expensive for buyers holding foreign currencies. ($1 = 4.4340 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3XLeyr4 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Sumana Nandy and Varun H K) ((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 ))