31/07/2009 (The Star Online), Petaling Jaya - Malaysia’s July palm oil exports advanced 14% compared to June on higher demand especially from China where economic growth is supporting consumption.

According to Intertek, 1.40 million tonnes of palm oil were tracked in July compared to 1.23 million tonnes in June.

Meanwhile, crude palm oil (CPO) third-month futures traded on the Malaysia Derivative Exchange were up 4.10% as soybean futures traded on the Chicago Board of Trade rose to a nine-month high.

At midday, CPO prices advanced RM88 to RM2,233 per tonne.

OSK Research Sdn Bhd analyst Alvin Tai said in an earlier report that CPO prices were expected to fall below RM2,000 per tonne as production peaked later in the year.