* Palm oil charts second consecutive session of falls

* Palm falls to 2,730 rgt/T, lowest in over one week

* Market decline on weaker-performing rival oils - traders

(Updates latest prices, quote)

02/11/2016 (Reuters) - Malaysian palm oil futures dropped on Tuesday evening, hitting their lowest point in more than a week, weighed down by weaker performing rival soyoils on China's Dalian Commodity Exchange and the Chicago Board of Trade.

Palm's movement has been volatile the past week, up on stronger soyoil movements but weighed down by weaker export demand. The market fell for a second consecutive session on Tuesday at the close of trade.

Benchmark palm oil for January on the Bursa Malaysia Derivatives Exchange was down 1.1 percent at 2,732 ringgit ($654) a tonne in the evening.

It earlier hit an intraday low of 2,730 ringgit, its weakest level since Oct. 21.

Traded volumes stood at 31,848 lots of 25 tonnes each in a day, below the 2015 daily average of 44,600 lots.

"There was some Dalian weakness in the afternoon, so there was some profit taking there," said a Kuala Lumpur-based futures trader.

"Then soybean oil dropped before we opened for the afternoon session," he said, referring to soyoil futures on the Chicago Board of Trade.

Palm oil prices are impacted by the movements of related vegetable oils as they compete for a share in the global edible oils market.

The December soybean oil contract on the Chicago Board of Trade fell 0.5 percent, while the January soybean oil contract on China's Dalian Commodity Exchange declined 0.6 percent.

In related vegetable oils, the January contract for palm olein on China's Dalian Commodity Exchange was down 1.5 percent.

Palm, soy and crude oil prices at 1057 GMT

Contract Month Last Change Low High Volume

MY PALM OIL NOV6 2750 -24.00 2750 2775 88

MY PALM OIL DEC6 2735 -28.00 2735 2792 2953

MY PALM OIL JAN7 2732 -31.00 2730 2792 19353

CHINA PALM OLEIN JAN7 5876 -90.00 5872 6020 1207130

CHINA SOYOIL JAN7 6664 -42.00 6650 6760 634972

CBOT SOY OIL DEC6 34.99 -0.18 34.92 35.39 11134

INDIA PALM OIL NOV6 513.30 -1.60 512.40 523 1355

INDIA SOYOIL NOV6 666.4 -1.50 666 669.8 12950

NYMEX CRUDE DEC6 46.83 -0.03 46.56 47.21 160675

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 = 4.1790 ringgit)
($1 = 66.7375 Indian rupees)
($1 = 6.7709 Chinese yuan)