* Market hits 3-week low of 2,247 rgt/T
* Buyers waiting for price trend projection - trader
* Palm may hover around support at 2,264 rgt/T range - techs
By Emily Chow
KUALA LUMPUR, Feb 12 (Reuters) - Malaysian palm oil futures
slipped on Tuesday, heading for a third day of decline, amid
slowing export demand.
The benchmark palm oil contract for April delivery
on the Bursa Malaysia Derivatives Exchange fell 0.4 percent to
2,258 ringgit ($554.11) a tonne at the midday break. 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 13,073 lots of 25 tonnes each at
"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," added the trader, 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
Soyoil was last slightly up 0.03 percent on Tuesday.
The May contract on the Dalian Commodity Exchange
fell 0.6 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 may hover around support at 2,264 rgt/T range, said
Wang Tao, a Reuters market analyst for commodities and energy
Palm, soy and crude oil prices at 0500 GMT
Contract Month Last Change Low High Volume
MY PALM OIL FEB9 0 +0.00 0 0 0
MY PALM OIL MAR9 2220 -7.00 2213 2229 718
MY PALM OIL APR9 2258 -8.00 2247 2268 5490
CHINA PALM MAY9 4766 -18.00 4716 4780 237766
CHINA SOYOIL MAY9 5716 -36.00 5684 5758 281508
CBOT SOY OIL MAR9 30.24 +0.00 30.2 30.32 2525
INDIA PALM FEB9 562.40 -1.40 561.50 563.5 247
INDIA SOYOIL FEB9 773 -0.55 773 776 390
NYMEX CRUDE MAR9 52.76 +0.35 52.29 52.93 39112
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 = 4.0750 ringgit)
($1 = 70.9890 Indian rupees)
($1 = 6.7863 Chinese yuan)
(Reporting by Emily Chow; Editing by Shreejay Sinha)