* Palm declines to 2,412 rgt/T, lowest since Jan. 21

* Bearish palm fundamentals bring market weakness -trader

* M'sia CPO export tax deters price gains -trader

(Updates latest prices)

17/06/2016 (Reuters) - Malaysian palm oil futures fell on Thursday evening, hitting a five-month low and recording a ninth straight day of losses, as traders sell because of concerns of export weakness.

A strengthening ringgit and falls in competing vegetable oils have also undermined the edible oil. A stronger ringgit, the currency of trade for palm, makes it more expensive for foreign currency holders.

It earlier rose against the dollar to an intraday high of 4.0800 before weakening slightly by 0.01 percent to reach 4.0990 in the evening.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were down 1.8 percent at 2,415 ringgit per tonne in the evening. The market earlier fell to its lowest since Jan. 21 at 2,412 ringgit.

Traded volume stood at 58,026 lots of 25 tonnes each in the evening, versus the 2015 daily average of 44,600 lots.

"There are fears about further demand in the months to come after Eid, and these are high production months," said a trader from Kuala Lumpur.

"Demand is a question mark, we don't know how good exports will be after Eid. The export tax is also a deterrent to a certain extent by making us more uncompetitive."

Malaysia announced on Wednesday that it would raise its crude palm oil export tax to 6 percent for the month of July, up from 5.5 percent this month.

Palm oil shipment data from cargo surveyors dampened market sentiment, as it ranged between a marginal 0.5 percent gain to a 3 percent decline for the first half of June from the first two weeks in May.

Demand for palm peaks ahead of Ramadan, the Muslim holy month leading up to Eid, as Muslims break their fasts with communal feasting. More palm oil is consumed then for cooking purposes, but exports are expected to fall after the festivities end in July.

Production is forecast to rise in line with seasonal trends until the fourth quarter of the year. Malaysian output in May climbed 4.9 percent from April to 1.36 million tonnes, according to government data. (MYPOMP-CPOTT)

In competing vegetable oils, the Chicago Board of Trade soyoil contract for July fell 0.6 percent and the September soybean oil contract on the Dalian Commodity Exchange declined 2.4 percent.

Palm, soy and crude oil prices at 1054 GMT:

Contract Month Last Change Low High Volume

MY PALM OIL JUL6 2441 -36.00 2438 2453 1086

MY PALM OIL AUG6 2424 -44.00 2422 2448 15752

MY PALM OIL SEP6 2416 -45.00 2412 2439 25083

CHINA PALM OLEIN SEP6 5054 -80.00 5042 5128 659596

CHINA SOYOIL SEP6 5912 -144.00 5902 6032 528742

CBOT SOY OIL JUL6 31.78 -0.18 31.67 32.09 4693

INDIA PALM OIL JUN6 510.30 -4.80 509.60 514 1195

INDIA SOYOIL JUN6 629.5 -2.25 629 631.6 2680

NYMEX CRUDE JUL6 47.36 -0.65 47.22 47.75 55800

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