* Investors cautious on record stocks and U.S. fiscal woes * Prices hit 2,217 ringgit, lowest since Nov 2009 * Traders looking out for Malaysia's new crude palm oil tax for Jan (Updates prices, adds detail) By Chew Yee Kiat SINGAPORE, Dec 13 (Reuters) - Malaysian palm oil futures fell on Thursday to their lowest in more than three years, as record stocks and concerns that U.S. fiscal woes might drag on global growth spooked investors. Despite announcements of more monetary stimulus by the U.S. Federal Reserve, traders remained cautious as sharp differences on the 2013 budget persisted between Congressional Republicans and the White House, and negotiators warned the showdown could drag on past Christmas. Record high stocks in Malaysia, the world's No.2 palm producer, also drove palm oil futures to their third straight daily loss. "The market looks exhausted at current levels, and some correction is anticipated. But any bounce will be limited with supply seen at record levels," a trader with a local commodities brokerage in Malaysia said. At the close, the benchmark February contract on the Bursa Malaysia Derivatives Exchange lost 0.6 percent to settle at 2,227 ringgit ($730) per tonne, slightly above its intraday low of 2,217 ringgit, a level unseen since November 2009. Total traded volumes surged to 34,576 lots of 25 tonnes each after the midday break, compared to the usual 25,000 lots. Traders will be counting on Malaysian exporters to use their tax-free export quota ahead of its year-end expiration and looking to stronger Chinese demand to bolster export figures for the first half of December. India's monthly imports of cooking oil fell by a third in November, a trade body said, largely because of a drop in purchases of palm oil, as cold weather makes the commodity unusable and volatile prices deterred buyers. Malaysia's new crude palm oil export tax for January is also in focus as analysts said the tax, likely to be set at zero, could boost exports of the crude grade and ease record stock levels. In a bearish sign for palm oil, Brent crude slipped toward $109 a barrel on rising U.S. oil stockpiles, while fears the world's largest economy might miss a deadline for next year's budget and risk a recession also kept bulls in check. In other vegetable oil markets, U.S. soyoil for January delivery lost 0.1 percent in late Asian trade. The most active May 2013 soybean oil contract on the Dalian Commodity Exchange closed 0.6 percent lower. Palm, soy and crude oil prices at 1003 GMT Contract Month Last Change Low High Volume MY PALM OIL DEC2 2090 +48.00 2051 2090 322 MY PALM OIL JAN3 2147 +5.00 2123 2153 1802 MY PALM OIL FEB3 2227 -14.00 2217 2246 12125 CHINA PALM OLEIN MAY3 6698 -24.00 6664 6736 603440 CHINA SOYOIL MAY3 8610 -50.00 8586 8638 445940 CBOT SOY OIL JAN3 49.51 -0.03 49.36 49.71 7640 NYMEX CRUDE JAN3 86.25 -0.52 86.20 86.78 13389 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 Crude in U.S. dollars per barrel

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