KUALA LUMPUR, Nov 27 - Malaysian palm oil futuresclimbed more than 1% Friday after top buyer India lowered importtax on the commodity, although falling exports kept the contracton track for a second straight weekly drop. The benchmark palm oil contract for Februarydelivery on the Bursa Malaysia Derivatives Exchange rose 58ringgit, or 1.8%, to 3,286 ringgit a tonne during early trade. Palm has fallen 0.2% so far this week. FUNDAMENTALS * India, the world's biggest edible oil buyer, on Thursdayslashed import tax on crude palm oil to 27.5% from 37.5%, thegovernment said in a statement, as New Delhi tries to bring downrising food prices. * Exports of Malaysian palm oil products for Nov. 1-25 fell21.2% to 1,127,495 tonnes from the same period in October, cargosurveyor Societe Generale de Surveillance said on Thursday. * Dalian's most-active soyoil contract fell 0.7%,while its palm oil contract gained 0.4%. The ChicagoBoard of Trade was closed for a public holiday. * Palm oil is affected by price movements in related oils asthey compete for a share in the global vegetable oils market. MARKET NEWS * Asian shares stalled near record highs on Friday asinvestors weighed renewed doubts about a highly-anticipatedcoronavirus vaccine against hopes that some of the region'seconomies will recover quicker than their Western peers. DATA/EVENTS AHEAD (GMT) 0745 France GDP QQ Final Q3 0745 France CPI (EU Norm) Prelim YY Nov 1000 EU Consumer Confidence Final Nov 1100 Brazil IGP-M Inflation Index Nov 1200 India GDP Quarterly YY Q2 REUTERS
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