<p>KUALA LUMPUR, April 8 (Reuters) - Malaysian palm oil futures fell more than 3% on Wednesday as crude oil prices plunged following a U.S-Iran ceasefire deal, while weaker rival edible oils also weighed on the market.</p>
<p>The benchmark palm oil contract  (FCPOc3)  for June delivery on the Bursa Malaysia Derivatives Exchange slid 147 ringgit, or 3.08%, to 4,618 ringgit a metric ton in early trade, extending losses to a third straight session.</p>
<h3>FUNDAMENTALS</h3>
<ul>
<li>Oil fell below $100 per barrel after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran that was subject to the immediate and safe reopening of the Strait of Hormuz.  (O/R)</li>
<li>Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.</li>
<li>Dalian’s most-active soyoil contract  (DBYcv1)  fell 2.77%, while its palm oil contract  (DCPcv1)  shed 3.76%. Soyoil prices on the Chicago Board of Trade  (BOcv1)  were down 3.53%.</li>
<li>Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.</li>
<li>The ringgit  (MYR=) , palm’s currency of trade, strengthened 0.94% against the dollar, making the commodity more expensive for buyers holding foreign currencies.</li>
<li>European Union soybean imports for the 2025⁄26 season that began in July had reached 9.74 million metric tons by April 5, down 9% from the same period a year earlier, while palm oil imports were down 4% at 2.19 million tons, European Commission data showed.</li>
<li>Malaysia plans to expand its palm-based B20 biodiesel programme nationwide in phases, taking into account the price sensitivity of palm oil relative to petroleum prices, the plantation and commodities minister said.</li>
<li>Palm oil may revisit its recent low of 4,713 ringgit per ton, the ending point of a wave a from 4,919 ringgit, Reuters technical analyst Wang Tao said.  (TECH/C)</li>
</ul>
<h3>MARKET NEWS</h3>
<ul>
<li>Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.  (MKTS/GLOB)</li>
</ul>
<h3>DATA/EVENTS</h3>
<p>0600   Germany   Industrial Orders MM   Feb</p>
<p>0600   Germany   Manufacturing O/P Cur Price SA   Feb</p>
<p>0600   Germany   Consumer Goods SA   Feb</p>
<p>0600   UK   Halifax House Prices MM, YY   Mar</p>
<p>0645   France   Reserve Assets Total   Mar</p>
<p>0830   UK   S&amp;P Global PMI: MSC Composite - Output   Mar</p>
<p>cpo</p>
<p><img src="https://imageproxy.pbkrs.com/https://tmsnrt.rs/4bY7D5q?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1917" height="976" original-src="https://imageproxy.pbkrs.com/https://tmsnrt.rs/4bY7D5q"/></p>

VEGOILS-Palm falls more than 3% as crude oil slumps on US-Iran ceasefire