09/04/2012 (Reuters) - Malaysian palm oil futures rose to a near 13-month high on Friday, as traders continued to bet on strong demand ahead of key industry data due next week. 

Palm oil recorded its best weekly performance since December with an almost 5.0 percent gain in response to a damaging South American drought and U.S. data showing farmers will plant less soy,  shifting demand for the tropical oil.  

"The USDA report was the main driver. So far palm oil exports have also been holding up quite well, and the next official data on the 10th (of April) will be another key," said James Ratnam, an analyst with TA Securities in Malaysia. 

"Market players are still worried about stocks, and hopefully demand has grown strong enough to offset any increase in stocks." 

Benchmark June palm oil futures on the Bursa Malaysia Derivatives Exchange closed 1.3 percent higher at 3,604 ringgit ($1,165) per tonne after going as high as 3,607 ringgit, a level not seen since March 9 last year.  

Traded volumes were thin at 18,810 lots of 25 tonnes each, compared to the usual 25,000 lots, as most financial markets were closed for the Good Friday holiday. 

Malaysian palm oil exports picked up in March from a month ago, snapping four straight months of declines, and traders were hoping that buying interest from China and India will support the trend.  

Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release exports data for the first 10 days of April next Tuesday.

Market players are also watching closely Malaysian palm oil stocks, which appear to be staying above 2 million tonnes in February.

A Reuters survey of five plantation houses showed on Friday that stocks probably fell to a 7-month low in March, as an increase in exports outpaced production growth. Industry regulator Malaysian Palm Oil Board will release official data on Tuesday.  

In other vegetable oil markets, the most-active Dalian soyoil September contract rose 1.7 percent, extending its gains after a strong rally in the previous trading session. The U.S. market is closed for the Good Friday break.      

  Palm, soy and crude oil prices at 1016 GMT

  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      APR2    3635   +35.00    3607    3636     327
  MY PALM OIL      MAY2    3613   +39.00    3577    3620    1702
  MY PALM OIL      JUN2    3604   +46.00    3562    3607   10239
  CHINA PALM OLEIN SEP2    8968  +140.00    8882    8982  221622
  CHINA SOYOIL     SEP2    9996  +170.00    9898    9998  607886
  CBOT SOY OIL     MAY2   56.64    +0.00    0.00    0.00       0
  NYMEX CRUDE      MAY2  103.31    +0.00    0.00    0.00       0

  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
  ($1=3.063 ringgit)