16.09.2021 (www.nasdaq.com) - KUALA LUMPUR, Sept 17 (Reuters) - Malaysian palm oil futures fell on Friday, tracking losses in rival edible oils as the contract rolled over to a new month, setting them on course for a third consecutive weekly decline.

The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange was down 88 ringgit, or 2.03%, at 4,241 ringgit ($1,016.54) a tonne during early trade, its lowest since Sept. 2.

Palm is set to post a weekly decline of 0.8%.

FUNDAMENTALS

* Exports of Malaysian palm oil products for September 1-15 rose 45.3% to 839,533 tonnes from the same week in August, cargo surveyor Societe Generale de Surveillance said on Friday.

* Palm oil imports in India, the world's biggest buyer of edible oils, rose 2% in August to 750,134 tonnes on-year, their highest in three months, as buyers increased purchases of refined palm oil ahead of key festivals, the Solvent Extractors' Association of India said said on Wednesday.

* Dalian's most-active soyoil contract DBYcv1 fell 1.7% while its palm oil contract DCPcv1 eased 2.3%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.8%.

* Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

* Palm oil may break a resistance at 4,439 ringgit per tonne, and rise towards 4,507 ringgit, Reuters technical analyst Wang Tao said. TECH/C

* Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and global growth concerns weighed on investors' minds, while the dollar sat near a three-week high. MKTS/GLOB

DATA/EVENTS

0600 UK Retail Sales MM, YY Aug

0600 UK Retail Sales Ex-Fuel MM Aug

0900 EU HICP Final MM, YY Aug

1400 US U Mich Sentiment Prelim Sept

($1 = 4.1720 ringgit)

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(Reporting by Mei Mei Chu; Editing by Sherry Jacob-Phillips)

((Meifong.chu@thomsonreuters.com))

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