Updates closing prices and adds analyst quote

SINGAPORE, Aug 27 (Reuters) -Malaysian palm oil futures reversed early gains on Tuesday to end a four-session climb, as investors weighed mixed demand signals from top global consumers.

The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange closed down 2 ringgit, or 0.05%, at 3,922 ringgit ($902.65) a metric ton.

The contract had risen 1.4% during the session before retreating.

Markets are looking for clearer direction amid quieter demand from China and excessive arrivals of palm oil in India, and as India's agriculture ministry has reportedly suggested a hike in the import duty of edible oils, said Lingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.

Prices were earlier supported by the Indonesian Palm Oil Association's estimates that Indonesia's 2024 palm oil output would fall to 52-53 million tons from 54.84 million tons a year ago, said Anilkumar Bagani, research head of Mumbai-based vegetable oils broker Sunvin Group, citing a Bloomberg report.

Indonesia's president elect Prabowo Subianto said that the upcoming implementation of the European Union's deforestation regulation (EUDR) that could curb EU imports of Indonesian palm oil is a "blessing in disguise", and that Indonesia will instead use more of its palm oil output for biodiesel.

Prabowo hopes to implement mandatory 50% palm oil-based biodiesel blending by early next year, which he said would cut fuel imports by $20 billion per year.

Indonesia's trade ministry is mulling a plan to adjust its palm oil export tax to make it more competitive amid weak global demand, Bisnis.com reported on Monday, citing Isy Karim, a senior official at the ministry.

Dalian's most-active soyoil contract DBYcv1 advanced 1.76%, while its palm oil contract DCPcv1 gained 1.56%. Soyoil prices on the Chicago Board of Trade BOcv1 shed 0.64%.

Palm oil tracks price movements in related oils as they compete for a share in the global vegetable oils market.

The Malaysian ringgit MYR=, palm's currency of trade, slipped 0.07% against the dollar. A weaker ringgit makes palm oil more attractive for foreign currency holders.

($1 = 4.3450 ringgit)

Reporting by Gabrielle Ng; Editing by Savio D'Souza, Varun H K and Mrigank Dhaniwala

For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01.
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11.

Vegetable oils OILS/ASIA1
Malaysian palm oil exports SGSPALM1
CBOT soyoil futures 0#BO:
CBOT soybean futures 0#S:
Indian solvent SOLVENT01
Dalian Commodity Exchange DC/MENU
Dalian soyoil futures 0#DBY:
Dalian refined palm oil futures 0#DCP:
Zhengzhou rapeseed oil 0#COI:
European edible oil prices/trades OILS/E