* Palm sees third session of declines in four 

* China weakness hits sentiment - trader

* Stronger ringgit also weighs on market

(Updates latest prices)

24/05/2016 (Reuters) - Malaysian palm oil futures hit their lowest level in nearly three months on Monday, dragged down by losses in Chinese vegetable oils, while a stronger ringgit also weighed on sentiment earlier in the day.

The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange had fallen 1.4 percent to 2,492 ringgit ($610) per tonne by the closing trade, posting its third loss in the past four sessions.

Earlier in the day, the contract fell as much as 2.1 percent to 2,475 ringgit, its lowest since March 3. Last week, palm posted its second consecutive weekly decline, weighed down by the sell-off in Chinese commodities markets.

Traded volumes stood at 52,089 lots of 25 tonnes each on Monday evening compared with the 2015 daily average of 44,600.

"Palm is kept down by external markets, Dalian's RBD (refined, bleached and deodorized) palm olein has continuously been under pressure," said a trader based in Kuala Lumpur.

The most actively traded September contract for palm olein on the Dalian Commodity Exchange dropped 2.2 percent on Monday.

The ringgit rose on Monday morning before falling slightly by 0.2 percent to 4.0840 per dollar. A stronger ringgit make palm more expensive for holders of foreign currencies.

In other vegetable oils, the Chicago Board of Trade soyoil contract for August fell 0.8 percent, while the September soybean oil contract on the Dalian Commodity Exchange dropped 2.4 percent.

The offer price for crude palm kernel oil stood at 4,828 ringgit per tonne (PKO-MYSTH-M1) in the evening, according to price assessments by Thomson Reuters.

Palm, soy and crude oil prices at 1035 GMT:

Contract Month Last Change Low High Volume

MY PALM OIL JUN6 2520 -38.00 2507 2537 572

MY PALM OIL JUL6 2523 -33.00 2496 2525 9090

MY PALM OIL AUG6 2495 -36.00 2475 2506 25596

CHINA PALM OLEIN SEP6 4990 -114.00 4932 5170 965802

CHINA SOYOIL SEP6 5738 -140.00 5680 5930 874884

CBOT SOY OIL JUL6 31.02 -1.60 30.79 31.41 11773

INDIA PALM OIL MAY6 529.00 -1.60 526.10 531.2 372

INDIA SOYOIL JUN6 637.8 -0.80 634.7 639.5 35070

NYMEX CRUDE JUL6 47.81 -0.60 47.67 48.50 76827

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 = 4.0840 ringgit)
($1 = 67.4400 Indian rupees)
($1 = 6.5520 Chinese yuan)