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VEGOILS-Palm oil slips to three-week low on weak demand

* 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

noon. (1FCPO-TOT)

"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

brewed.

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

technicals.


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

OLEIN

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

OIL

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)