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VEGOILS-Palm declines for third straight day on weaker demand

* Market falls to 3-week low at 2,247 rgt/T

* Buyers waiting for price trend projection - trader

* Palm may hover around support at 2,264 rgt/T -technicals

(Updates with closing prices)

By Emily Chow

KUALA LUMPUR, Feb 12 (Reuters) - Malaysian palm oil futures

slipped on Tuesday, posting a third day of declines amid slowing

export demand.


The benchmark palm oil contract for April delivery

on the Bursa Malaysia Derivatives Exchange fell 0.5 percent to

2,254 ringgit ($552.86) a tonne at the close of trade. It had

fallen to a three-week low of 2,247 ringgit earlier in the day

after hitting a seven-month high last week.

Trading volumes stood at 31,884 lots of 25 tonnes each at

the end of the trading day. (1FCPO-TOT)

"The market had earlier gone up as India had been buying,

but since buyers have bought already, they will stop for a bit

in February. They also want to see the price projection of the

market at a March industry conference, so the market is coming

off a bit," said a Kuala Lumpur-based futures trader.

"U.S. soybean oil also fell, so palm needs to adjust a bit

to that," the trader added, referring to overnight declines in

soyoil on the Chicago Board of Trade.

Exports of Malaysian palm oil products during Feb. 1-10 fell

11.2-15.8 percent from Jan. 1-10, according to cargo surveyors

AmSpec Agri Malaysia, Intertek Testing Services and Societe

Generale de Surveillance.


In other related oils, the Chicago March soybean oil

contract fell 2 percent on Monday, as concerns over

improving crop weather in South America and worries about a

looming March 1 deadline for a U.S.-China trade agreement

brewed.

Soyoil was last down 0.1 percent on Tuesday.

The May contract on the Dalian Commodity Exchange

fell 0.8 percent, while the Dalian January palm oil contract

declined 0.4 percent.

Palm oil prices are affected by movements in soyoil rates,

as they compete for a share in the global vegetable oil market.

Palm oil may temporarily hover around a support at 2,264

ringgit per tonne, or bounce towards a resistance at 2,294

ringgit before falling again, said Wang Tao, a Reuters market

analyst for commodities and energy technicals.

Palm, soy and crude oil prices at 1043 GMT

Contract Month Last Change Low High Volume

MY PALM OIL FEB9 2190 -14.00 2190 2197 43

MY PALM OIL MAR9 2214 -14.00 2207 2229 2894

MY PALM OIL APR9 2255 -12.00 2247 2268 12460

CHINA PALM OLEIN MAY9 4764 -20.00 4716 4780 282300

CHINA SOYOIL MAY9 5708 -44.00 5684 5758 333206

CBOT SOY OIL MAR9 30.22 -0.02 30.17 30.32 10875

INDIA PALM OIL FEB9 560.00 -3.80 558.00 563.5 882

INDIA SOYOIL FEB9 771 -2.55 769.5 776 3350

NYMEX CRUDE MAR9 53.01 +0.60 52.29 53.07 114679

Palm oil prices in Malaysian ringgit per tonne

CBOT soy oil in U.S. cents per pound

Dalian soy oil and RBD palm olein in Chinese yuan per tonne

India soy oil in Indian rupee per 10 kg

Crude in U.S. dollars per barrel

($1 = 4.0770 ringgit)

($1 = 70.7600 Indian rupees)

($1 = 6.7726 Chinese yuan)

(Reporting by Emily Chow; Editing by Shreejay Sinha and David

Evans)