* Market in line for second straight session of losses * Bearish sentiment on India raising import duty hike continues to weigh on market - Trader * Palm faces resistance at 2,687 rgt/T, may retrace towards 2,687 rgt/T - Technicals KUALA LUMPUR, Aug 15 (Reuters) - Malaysian palm oil futures slid on Tuesday, tracking a decline in exports and weaker performance among other related edible oils. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.8 percent at 2,644 ringgit ($616.03) at the midday break, poised for its second consecutive session of declines. Traded volumes stood at 27,468 lots of 25 tonnes each at noon. "Palm was down due to weaker exports as well as softening external prices," said a Kuala Lumpur-based futures trader, referring to the export data from a cargo surveyor, and fall in soyoil prices on the Chicago Board of Trade and China's Dalian Commodity Exchange. Exports of Malaysian palm oil products for Aug. 1-15 loading fell 14.6 percent to 512,039 tonnes from 599,414 tonnes shipped between July 1 and July 15, cargo surveyor Intertek Testing Services said on Tuesday. Another trader noted that demand for palm oil futures has softened ahead of India's imposition of a higher import duty tax. India, the world's biggest buyer of vegetable oils, announced last Friday a raise in import taxes on crude and refined edible oils to protect local oilseed farmers from cheaper imports from top suppliers Malaysia and Indonesia. Palm oil prices are impacted by the movements in related edible oils including soy, as they compete for a share in the global vegetable oils market. The October soybean oil contract on the Chicago Board of Trade slipped as much as 0.5 percent, while the January soybean oil on the Dalian Commodity Exchange dipped up to 0.25 percent. The January palm olein contract fell up to 0.85 percent. The palm oil November contract faces a strong resistance at 2,687 ringgit per tonne, and it may retrace towards a support at 2,614 ringgit, according to Reuters market analyst for commodities and energy technicals Wang Tao. Palm, soy and crude oil prices at 0557 GMT Contract Month Last Change Low High Volume MY PALM OIL AUG7 0 +0.00 0 0 0 MY PALM OIL SEP7 2640 -21.00 2640 2665 956 MY PALM OIL OCT7 2644 -21.00 2643 2671 11122 CHINA PALM OLEIN JAN8 5382 -48.00 5374 5446 560120 CHINA SOYOIL JAN8 6272 -14.00 6250 6304 371782 CBOT SOY OIL DEC7 33.6 -2.90 33.6 33.75 3083 INDIA PALM OIL AUG7 497.40 -2.90 496.90 507.8 3137 INDIA SOYOIL AUG7 642.5 -3.35 642.2 655 13130 NYMEX CRUDE SEP7 47.60 +0.01 47.49 47.70 26109 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 = 4.2920 ringgit) ($1 = 64.1050 Indian rupees)
