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choi baccarat(www.vng.app):VEGOILS-Palm oil rallies for ninth day to hit 13-yr peak on crude, rivals strength

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,KUALA LUMPUR, March 15 - Malaysian palm oilfutures hit a more than 13-year high on Monday, as the marketrallied for a ninth straight session, lifted by a jump in crudeand rival edible oils due to tightening global supplies. The benchmark palm oil contract for May delivery onthe Bursa Malaysia Derivatives Exchange gained 17 ringgit, or0.41%, to 4,142 ringgit ($1,007.30) a tonne during early trade,its highest since March 4, 2008. Palm is also set for its longest consecutive daily risingstreak in nearly 19 years. Investors are now awaiting cargo surveyors to announce March1-15 export data but shipments are expected to remain slow amidlower stockpile and output. FUNDAMENTALS * India's palm oil imports fell 27% in February from a yearearlier to their lowest in nine months, a leading trade bodysaid on Friday, reflecting a slowdown in domestic demand. * Dalian's most-active soyoil contract rose 0.4%,while its palm oil contract gained 0.4%. Soyoil priceson the Chicago Board of Trade were up 0.3%. * Palm oil is affected by price movements in related oils asthey compete for a share in the global vegetable oils market. * Oil prices edged up, with Brent drifting near $70 abarrel, making palm a more attractive option for biodieselfeedstock. * Palm oil may retreat into a range of 4,008 ringgit to4,048 ringgit per tonne before resuming its uptrend, Reuterstechnical analyst Wang Tao said. MARKET NEWS * Global stock prices were off to a solid start while U.S.bond yields hovered near a 13-month peak on Monday as investorsbet U.S. economic growth will accelerate after the passing of amassive stimulus package. DATA/EVENTS (GMT) 0200 China Urban Investment (YTD) YY Feb 0200 China Industrial Output YY Feb 0200 China Retail Sales YY Feb 1100 EU Reserve Assets Total Feb 1400 Euro zone finance ministers meet ($1 = 4.1120 ringgit) REUTERS
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