VEGOILS-Palm dips on weak CBOT soyoil, low export demand

* Weak Indian rupee weighs on market - trader

* Malaysia's Aug. 1-15 exports fall 14.6 pct - AmSpec

* Palm to fall into 2,165-2,179 rgt/T range - Techs

By Emily Chow

KUALA LUMPUR, Aug 15 (Reuters) - Malaysian palm oil futures

edged lower in first-half trade on Wednesday, tracking losses in

U.S. soyoil and on weak export demand.

Also, weighing on sentiment was weakness in the Indian rupee

which has made imports expensive for local buyers in the

South Asian nation.

This will hurt palm oil export demand in Malaysia as India

is the world's biggest importer of edible oils.

The rupee fell to a record low of more than 70 per dollar

level on Tuesday as concerns about Turkey's economic woes

spreading to other emerging markets such as India persisted.

Indian markets were closed on Wednesday for a holiday.

The benchmark palm oil contract for October delivery

on the Bursa Malaysia Derivatives Exchange was down

0.2 percent at 2,209 ringgit ($538.65) a tonne at the midday

break.

Trading volumes stood at 13,963 lots of 25 tonnes each at

noon. (1FCPO-TOT)

"There is also very low demand for the month of August which

I expect to go lower," said a Kuala Lumpur-based trader.

Malaysia's palm oil shipments in the first half of August

also slid, with inspection company AmSpec Agri Malaysia

reporting a 14.6 percent decline in exports from a month

earlier.

Traders said they expected buyers to hold off imports from

Malaysia in August as the Southeast Asian nation reduced its

export tax on crude palm oil for September to zero from 4.5

percent this month.

Palm oil is biased to fall into a range of 2,165-2,179

ringgit per tonne, as it has completed a bounce, or the first

round of this bounce from 2,140 ringgit, according to Reuters

market analyst for commodities and energy technicals Wang Tao.

In other related oils, the Chicago December soybean oil

contract was down 0.4 percent, while the January soybean

oil contract on China's Dalian Commodity Exchange gained

0.3 percent.

Meanwhile, the Dalian January palm oil contract

slipped 0.3 percent.

Palm oil prices are impacted by movements of other edible

oils, as they compete for a share in the global vegetable oils

market.

Palm, soy and crude oil prices at 0518 GMT

Contract Month Last Change Low High Volume

MY PALM OIL AUG8 0 +0.00 0 0 0

MY PALM OIL SEP8 2198 +1.00 2196 2202 406

MY PALM OIL OCT8 2209 -4.00 2206 2217 5760

CHINA PALM OLEIN JAN9 4896 -16.00 4894 4932 147780

CHINA SOYOIL JAN9 5872 +16.00 5868 5902 227876

CBOT SOY OIL DEC8 28.5 -0.10 28.5 28.64 1880

INDIA PALM OIL AUG8 595.70 -0.20 592.20 596.7 725

INDIA SOYOIL AUG8 733 -0.80 726.5 734.2 5280

NYMEX CRUDE SEP8 66.66 -0.38 66.51 66.83 16477

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 = 4.1010 ringgit)

($1 = 69.9500 Indian rupees)

($1 = 6.9050 Chinese yuan)

(Reporting by Emily Chow; Editing by Subhranshu Sahu)