VEGOILS-Palm slips from 4-mth high on weaker crude oil, profit booking

* Palm fell from previous day's high of 2,269 rgt/T

* Market also down on profit taking - trader

* Palm could gain on stronger exports, slowing output -

traders

By Emily Chow

KUALA LUMPUR, Jan 23 (Reuters) - Malaysian palm oil futures

fell on Wednesday from a four-month high hit in the previous

session and were set to snap a three-day rally, due to overnight

weakness in crude oil prices and profit booking by investors.

Palm oil prices are impacted by movements in crude oil, as

the edible oil is used as feedstock to make biodiesel.

The benchmark palm oil contract for April delivery

on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to

2,258 ringgit ($546.60) a tonne.

Trading volumes stood at 11,683 lots of 25 tonnes each at

the midday break. (1FCPO-TOT)

"The market is reacting towards lower crude prices today,"

said a Kuala Lumpur-based futures trader, adding that the market

could, however, hold at current levels as palm oil export data

so far showed rising demand.

Malaysian palm oil shipments during Jan. 1-20 rose in the

range of 9-13 percent from a month earlier, according to cargo

surveyors Intertek Testing Services, AmSpec Agri Malaysia and

Societe Generale de Surveillance.

Another trader added that palm prices were also down on

profit taking activities after the previous session's high, but

that the decline could be temporary if production figures show

declines in line with seasonal trend.

Crude oil had fallen about 2 percent on Tuesday over

concerns that a slowing global economy could slow fuel demand as

U.S. shale fields surge and cuts by Russia come in below

expectations.

Oil prices, however, held steady on Wednesday on hopes that

increased Chinese spending would stem an economic slowdown that

is showing signs of spreading and has been weighing on financial

markets.

In related oils, the Chicago March soybean oil contract

rose 0.3 percent on Wednesday, while the May soybean oil

contract on the Dalian Commodity Exchange was slightly

down 0.1 percent.

Meanwhile, the Dalian January palm oil contract

gained 0.1 percent.

Palm oil prices are impacted by movements in soyoil rates,

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

Palm, soy and crude oil prices at 0518 GMT:

Contract Month Last Change Low High Volume

MY PALM OIL FEB9 2162 -1.00 2147 2164 81

MY PALM OIL MAR9 2220 -3.00 2210 2228 2487

MY PALM OIL APR9 2258 -5.00 2250 2268 6250

CHINA PALM OLEIN MAY9 4742 +6.00 4726 4784 337854

CHINA SOYOIL MAY9 5668 -4.00 5636 5714 318196

CBOT SOY OIL MAR9 29.15 +0.09 29.09 29.2 3414

INDIA PALM OIL JAN9 556.60 -0.70 556.30 557.4 41

INDIA SOYOIL FEB9 765 -2.15 765 772 2110

NYMEX CRUDE MAR9 52.96 -0.05 52.69 53.18 32807

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 = 4.1310 ringgit)

($1 = 71.2350 Indian rupees)

($1 = 6.7834 Chinese yuan)

(Reporting by Emily Chow; Editing by Rashmi Aich)