VEGOILS-Palm falls more than 1 pct on firmer ringgit, weaker related oils
* Palm charts fourth straight session of declines
* Rising output, weak exports weigh on mkt - trader
(Updates with closing prices)
By Emily Chow
KUALA LUMPUR, Dec 26 (Reuters) - Malaysian palm oil futures
fell more than 1 percent on Wednesday evening, extending falls
into a fourth session, as the ringgit strengthened while
weakness in related edible oils also weighed on the market.
The ringgit, palm's currency of trade, was last up 0.2
percent at 4.1750 per dollar. A stronger ringgit usually makes
palm oil more expensive for holders of foreign currencies.
The benchmark palm oil contract for March delivery
on the Bursa Malaysia Derivatives Exchange was down 1.6 percent
at 2,094 ringgit ($501.56) a tonne at the close of trade.
Earlier in the session, it fell to its weakest level since Dec.
14 at 2,093 ringgit.
Trading volumes stood at 22,765 lots of 25 tonnes each at
the end of the trading day. (1FCPO-TOT)
"December production is picking up ... Coupled with weak
exports, a firmer ringgit and weaker Dalian also weighed (on the
palm market)," said a Kuala Lumpur-based futures trader,
referring to related edible oils on China's Dalian Commodity
Exchange.
Malaysian palm oil exports for Dec. 1-25 declined from a
month earlier, data from cargo surveyors showed.
Cargo surveyor Intertek Testing Services reported a 2.5
percent drop on Tuesday, while inspection company AmSpec Agri
Malaysia said on Wednesday shipments fell 6.4 percent.
In other related oils, the January soybean oil contract on
the Dalian Commodity Exchange fell 1.3 percent and the
Dalian January palm oil contract declined 1.2 percent.
Palm oil prices have been impacted by changes in soyoil
prices in recent sessions, as they compete for a share in the
global vegetable oil market.
Palm, soy and crude oil prices at 1043 GMT:
Contract Month Last Change Low High Volume
MY PALM OIL JAN9 2010 -38.00 2010 2034 198
MY PALM OIL FEB9 2050 -38.00 2049 2077 2149
MY PALM OIL MAR9 2094 -34.00 2093 2120 12831
CHINA PALM OLEIN JAN9 4054 -48.00 4042 4092 22796
CHINA SOYOIL JAN9 4924 -64.00 4902 4962 30852
CBOT SOY OIL JAN9 27.74 +0.00 0 0 0
INDIA PALM OIL DEC8 503.50 -2.50 499.90 504.5 354
INDIA SOYOIL JAN9 718.65 -1.45 715.55 719.8 7480
NYMEX CRUDE FEB9 43.20 +0.67 42.52 43.42 152785
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 = 4.1750 ringgit)
($1 = 70.1500 Indian rupees)
($1 = 6.8877 Chinese yuan)
(Reporting by Emily Chow; Editing by Subhranshu Sahu and Robin
Pomeroy)