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VEGOILS-Palm hits lowest in nearly two weeks low on weaker related oils

* Palm falls to 2,526 rgt/T, lowest since Jan 2

* Stronger ringgit also weighs on palm -trader

* Palm could fall to 2,519 ringgit/T -technicals

(Updates with closing prices)

By Emily Chow

KUALA LUMPUR, Jan 12 (Reuters) - Malaysian palm oil futures

fell by more than 1 percent on Friday evening, extending a sharp

decline from the previous session to hit their lowest in nearly

two weeks, tracking weakness in related edible oils as the

ringgit strengthened.

The benchmark palm oil contract for March delivery

on the Bursa Malaysia Derivatives Exchange was down 1.2 percent

at 2,536 ringgit ($638.79) a tonne at the end of the trading day

for a second daily decline.

Earlier in the session, it fell to the weakest since Jan. 2

at 2,525 ringgit.

For the week, palm was down 2.2 percent, its first weekly

decline in three.

Trading volumes stood at 46,226 lots of 25 tonnes each at

the close of trade.

"Palm is down on soyoil and Dalian palm olien. It is also

technically following through the selling from yesterday's weak

closing," one Kuala Lumpur-based trader said.

Palm dropped more than 2 percent the previous day on gains

in the ringgit, the tropical oil's currency of trade.

The ringgit has strengthened 11.5 percent against the dollar

since the start of 2017 and was up 0.4 percent at 3.9700 on

Friday evening.

A stronger ringgit usually makes palm oil more expensive for

foreign buyers.

In related edible oils, the March soybean oil contract

on the Chicago Board of Trade declined 0.9 percent in

overnight trade and was last down 0.1 percent on Friday.

The May soybean oil contract on the Dalian Commodity

Exchange fell 0.9 percent, while the Dalian January palm

oil contract was down 1.4 percent.

Palm oil tracks the performance of other edible oils that

compete for a share in the global vegetable oils market.

Palm oil could break a support at 2,555 ringgit a tonne and

fall to the next support at 2,519 ringgit, said Wang Tao, a

Reuters market analyst for commodities and energy technicals.

Palm, soy and crude oil prices as of 1046 GMT

Contract Month Last Change Low High Volume

MY PALM OIL JAN8 2510 -35.00 2510 2530 76

MY PALM OIL FEB8 2538 -35.00 2515 2546 1261

MY PALM OIL MAR8 2545 -31.00 2528 2558 18536

CHINA PALM OLEIN MAY8 5262 -74.00 5250 5318 297810

CHINA SOYOIL MAY8 5738 -50.00 5722 5794 311992

CBOT SOY OIL MAR8 33.12 +0.00 33.08 33.21 4326

INDIA PALM OIL JAN8 558.00 -1.50 554.50 559.1 577

INDIA SOYOIL JAN8 741 -0.85 740 742.5 1330

NYMEX CRUDE FEB8 63.55 -0.25 63.17 63.72 114441

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 = 3.9700 ringgit)

($1 = 63.5050 Indian rupees)

($1 = 6.4810 Chinese yuan)

(Reporting by Emily Chow; Editing by Subhranshu Sahu and David

Goodman)