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VEGOILS-Palm falls on slower-than-expected output declines

* Market hits near 3-week low of 2,271 rgt/T

* Weak oil and soyoil prices also weigh on palm - trader

* Palm may fall into 2,256-2,274 rgt/T range - techs

By Emily Chow

KUALA LUMPUR, Feb 11 (Reuters) - Malaysian palm oil futures

fell to their lowest in nearly three weeks on Monday, as traders

were bearish over data showing weaker-than-expected output


The benchmark palm oil contract for April delivery

on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to

2,274 ringgit ($558.72) a tonne at the midday break.

It had earlier fallen to 2,271 ringgit, its lowest since

Jan. 23.

Trading volumes stood at 14,952 lots of 25 tonnes each at

noon. (1FCPO-TOT)

"The market reacted to estimations from the Malaysia Palm

Oil Association, which showed production declining less than

earlier polls," said a Kuala Lumpur-based trader, referring to

the data showing January output falling 5.7 percent on-month to

1.71 million tonnes.

A Reuters poll had forecast January output falling 10.9

percent from December to 1.61 million tonnes.

"Weak external markets, led by the falls in crude and U.S.

soyoil, also weighed on palm," she said.

Another futures trader said that data showing slowing

exports during Febuary 1-10 versus the corresponding period last

month "should keep the market under pressure until the MPOB data

is released."

Exports of Malaysian palm oil products for February 1-10

fell 11.2 percent from January 1-10, according to independent

inspection company AmSpec Agri Malaysia.

Data from the MPOB, released at the market's midday break,

showed January stockpiles falling 6.7 percent from the previous

month to 3 million tonnes, while production fell 3.9 percent to

1.74 million tonnes.

Meanwhile, exports rose 21.2 percent to 1.68 million tonnes

in January.

In other related oils, the Chicago March soybean oil

contract fell 1 percent, while the May contract on the

Dalian Commodity Exchange rose 0.2 percent.

The Dalian January palm oil contract, meanwhile, was

down 0.04 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 fall into a range of 2,256-2,274 ringgit per

tonne, as its uptrend from the Nov. 27, 2018 low of 1,940

ringgit has reversed, said Wang Tao, a Reuters market analyst

for commodities and energy technicals.

Palm, soy and crude oil prices at 0445 GMT:

Contract Month Last Change Low High Volume

MY PALM OIL FEB9 0 +0.00 0 0 0

MY PALM OIL MAR9 2237 -18.00 2236 2253 1160

MY PALM OIL APR9 2274 -16.00 2271 2290 5722

CHINA PALM OLEIN MAY9 4770 -2.00 4762 4828 162764

CHINA SOYOIL MAY9 5736 +10.00 5722 5804 192612

CBOT SOY OIL MAR9 30.56 -0.31 30.54 30.87 5042

INDIA PALM OIL FEB9 568.20 -2.30 566.60 570.7 104

INDIA SOYOIL FEB9 776 +1.10 772.5 777 710

NYMEX CRUDE MAR9 52.02 -0.70 51.90 52.78 66823

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 = 4.0700 ringgit)

($1 = 71.2410 Indian rupees)

($1 = 6.7762 Chinese yuan)

(Reporting by Emily Chow; Editing by Shreejay Sinha)