* Malaysia May 1-25 palm oil exports rise 52.9 pct m/m - ITS
* Indonesia delays $50/T palm levy, could come in two weeks
* Palm oil to fall to 2,108 ringgit -technicals
 
26/05/2015 (Reuters) - Malaysian palm oil futures slipped on Monday after the world's top producer Indonesia said it would delay the implementation of export levies, although strong overseas sales by the No.2 grower checked losses.

Indonesia's finance minister said the regulation that will force exporters in Indonesia to pay a levy of $50 per tonne on shipments of crude palm oil, and $30 for processed palm oil, could only come in two weeks after public body that will collect the palm levy is ready.

The Indonesian Palm Oil Association on Friday told Reuters that delays in establishing guidelines and a new biodiesel fund or agency meant the implementation date would be pushed back as far as August, from earlier announcements that the levy would be introduced in the fourth week of May.

"The delayed levy is creating lots of uncertainty, which equals delay in buying," said a palm trader with a commodities brokerage in Malaysia. "Stiff competition from Indonesia is the reason behind the lower prices."

By the midday break, the benchmark August contract  on the Bursa Malaysia Derivatives exchange had edged down 0.1 percent to 2,134 ringgit ($591.55) a tonne, down for a sixth session out of seven. It earlier touched 2,121 ringgit, its lowest level for this month.

Robust export data, however, provided some support, keeping prices rangebound between 2,121-2,134 ringgit.

Cargo surveyor Intertek Testing Services (ITS) reported exports of Malaysian palm oil products for May 1-25 rose 52.9 percent to 1,382,782 tonnes from 904,112 tonnes shipped during April 1-25. Shipments of crude palm oil surged to 528,143 tonnes during the period, from 58,500 tonnes a month ago.  
 
Total traded volume on Monday stood at 14,473 lots of 25 tonnes each, above the average 12,500 lots.       

 In other markets, crude oil edged up, buoyed by healthy Asian appetite and demand from the U.S. driving season.  

Palm traders are also keeping a watch on the U.S. soy crop progress - bigger supplies of the oilseed for crushing into rival soyoil could water down demand for the tropical oil.

Warmer temperatures have been forecast in the coming days in the U.S. Midwest crop belt which are seen as favourable for developing corn and soybean plants.

The most active September soybean oil contract on the Dalian Commodity Exchange was down 1.1 percent in early Asian trade. The U.S. July soy markets were closed for the U.S. Memorial Day holiday.
 
  Palm, soy and crude oil prices at 0630 GMT
                                                                                                         
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      JUN5    2135    +3.00    2126    2135      57
  MY PALM OIL      JUL5    2138    +0.00    2124    2138    3518
  MY PALM OIL      AUG5    2134    -1.00    2121    2134    7053
  CHINA PALM OLEIN SEP5    4900   -38.00    4876    4934  407824
  CHINA SOYOIL     SEP5    5652   -66.00    5632    5694  458012
  CBOT SOY OIL     JUL5   31.67    -0.70    0.00    0.00       0
  INDIA PALM OIL   MAY5  447.00    -0.70  445.70  448.30      36
  INDIA SOYOIL     JUN5  594.60    -0.90  594.00  596.00    5700
  NYMEX CRUDE      JUL5   59.79    +0.07   59.69   60.06    6418
                                                                                                         
  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
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel
  
($1 = 3.6075 ringgit)
($1 = 6.2012 Chinese yuan)
($1 = 63.62 Indian rupees)