04.06.2018 (The Edge Markets MY) - MUMBAI (June 4): Malaysian palm oil futures fell more than 1% on Monday as traders were expecting build up in stockpiles due to sluggish export demand.

The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 1.31% at RM2,407 (US$606.30) a tonne by the close.

Trading volume stood at 45,918 lots of 25 tonnes.

"Demand is not picking up despite the recent correction. Buyers are waiting for a bigger fall," said a Kuala Lumpur-based palm oil trader said.

Malaysia's palm oil exports in May fell 8.8% from April to around 1.2 million tonnes, independent inspection company AmSpec Agri Malaysia said on Thursday.

Cargo surveyor Societe Generale de Surveillance (SGS) said the country's May palm oil exports fell 9.9% from a month ago.

In Indonesia, the world's top palm oil exporter, shipments of palm and palm kernel oils fell 13.6% in April, data from the Indonesia Palm Oil Association showed.

"MPOB (Malaysian Palm Oil Board) data could show an expansion in stocks at the end of May," said another Kuala Lumpur-based palm trader said.

The government body could release production, exports and stock numbers for May in next few days.

In related vegetable oils, the Chicago July soybean oil contract was down 0.22%, while September soybean oil on China's Dalian Commodity Exchange rose 0.48%.

Palm oil is affected by movements in rival edible oils as they compete for a share in the global vegetable oils market.

Palm, soy and crude oil prices at 1028 GMT

Contract	Month	Last	Change	Low	High	Volume
MY PALM OIL	JUN8	2414	-22.00	2410	2440	575
MY PALM OIL	JUL8	2405	-31.00	2404	2451	5,948
MY PALM OIL	AUG8	2407	-32.00	2407	2457	15,456
CHINA PALM OLEIN	SEP8	5096	4.00	5094	5148	331,338
CHINA SOYOIL	SEP8	5884	28.00	5854	5954	787,286
CBOT SOY OIL	JUL8	31.12	-8.60	31.08	31.27	12,394
INDIA PALM OIL	JUN8	644.00	-8.60	642.90	650.90	825
INDIA SOYOIL	JUN8	750.80	-11.05	750.50	760.50	15,410
NYMEX CRUDE	JUL8	65.36	-0.45	65.33	66.04	126,783

Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in US cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in US dollars per barrel

(US$1 = RM3.9700)