KUALA LUMPUR, Sept 17 (Reuters) -Malaysian palm oil futures slipped on Tuesday after the market reopened following a holiday, as a decision by India, the world's biggest importer of edible oils, to raise its import tax on edible oils weighed on sentiment.

The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange was down 59 ringgit, or 1.56%, at 3,716 ringgit ($869.24) a metric ton, as of 0315 GMT.

The contract lost 2.2% last week.

FUNDAMENTALS

* India imposed a 20% basic customs duty on crude palm oil, crude soyoil and crude sunflower oil from Sept. 14.

* The move will effectively increase the total import duty on the three oils to 27.5% from 5.5% as they are also subject to India's Agriculture Infrastructure and Development Cess and Social Welfare Surcharge.

* Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles.O/R

* Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

* Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.15%. China's Dalian Commodity Exchange was closed for a holiday on Tuesday.

* Palm oil tracks price movements of rival edible oils, as they compete for a share of the global vegetable oils market.

* The ringgit MYR=, palm's currency of trade, strengthened 0.47% against the dollar, making the commodity more expensive for buyers holding foreign currencies.

* Palm oil may test support zone of 3,782 ringgit to 3,796 ringgit per metric ton, a break below could trigger a drop to 3,759 ringgit, Reuters technical analyst Wang Tao said. TECH/C

MARKET NEWS

* Asian stocks wobbled while the dollar and U.S. Treasury yields came under pressure, with just a day to go before the expected start of the Federal Reserve's easing cycle that could see policymakers deliver an outsized rate cut. MKTS/GLOB

DATA/EVENTS

0430 Japan Tertiary Ind Act NSA July

0900 Germany ZEW Economic Sentiment Sept

0900 Germany ZEW Current Conditions Sept

1230 US Retail Sales MM Aug

1315 US Industrial Production MM Aug

($1 = 4.2750 ringgit)

Reporting by Danial Azhar; Editing by Sherry Jacob-Phillips

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