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VEGOILS-Palm gains for second straight session, tracking Chinese oils

* Palm sees second consecutive day of gains

* Chinese rival oils holds up palm market -trader

* Strong demand needed to lift prices June-August -trader

* May 1 - 25 exports gain 8-11 pct - ITS & SGS

(Updates latest prices, quotes)

By Emily Chow

KUALA LUMPUR, May 25 (Reuters) - Malaysian palm oil futures

rose for a second consecutive day, making their sharpest gains

in three weeks and outpacing a stronger ringgit as they

track improving rival oils in China.

The ringgit, in which palm oil is traded, strengthened 0.5

percent to reach 4.1010 against the dollar in the evening,

making palm more expensive for foreign currency holders.

Palm prices had earlier recorded two weeks of losses

tracking China's commodities sell-off.

The palm oil contract for August delivery on the

Bursa Malaysia Derivatives Exchange gained 1.7 percent to 2,545

ringgit ($620) per tonne at the closing trade, after reaching an

intraday high of 2,547 ringgit.

Traded volumes stood at 48,464 lots of 25 tonnes each on

Wednesday evening, versus a 2015 daily average of 44,600.

"The market most likely rebounded on an oversold

situation... And the Chinese markets have stopped dropping,"

said a trader in Kuala Lumpur, referring to palm's rival

vegetable oils on the Dalian Commodity Exchange.

"We may see a buy off tomorrow as most of the Chinese market

is up."

Malaysian palm oil shipments rose 8-11 percent over May 1-25

compared with the previous month, according to data from cargo

surveyors on Wednesday, but traders say double-digit monthly

growth is required to support benchmark prices.

"Post Ramadan the market will come down, we really need

strong demand then because we will see strong production from

June to August," said another trader from Kuala Lumpur.

The holy fasting month, which begins in June, typically

boosts consumption of palm oil for cooking, as feasts take place

when Muslims break their fast leading up to Eid.

In related vegetable oils, the Chicago Board of Trade soyoil

contract for July was up 0.8 percent, while the September

soybean oil contract on the Dalian Commodity Exchange

rose 0.9 percent. Dalian's most actively traded September

contract for palm olein gained 0.8 percent.

Palm, soy and crude oil prices at 1036 GMT:

Contract Month Last Change Low High Volume

MY PALM OIL JUN6 2571 +34.00 2516 2578 601

MY PALM OIL JUL6 2568 +43.00 2501 2569 5641

MY PALM OIL AUG6 2544 +43.00 2477 2547 24411

CHINA PALM OLEIN SEP6 5074 +42.00 5032 5090 656106

CHINA SOYOIL SEP6 5828 +50.00 5782 5848 499658

CBOT SOY OIL JUL6 31.14 +0.10 30.81 31.2 6904

INDIA PALM OIL MAY6 529.00 +0.10 524.20 529.5 576

INDIA SOYOIL JUN6 637.3 -2.75 631.5 640 64620

NYMEX CRUDE JUL6 49.15 +0.53 49.03 49.45 75368

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 = 4.1010 ringgit)

($1 = 67.3850 Indian rupees)

($1 = 6.5600 Chinese yuan)

(Reporting by Emily Chow; Editing by Ruth Pitchford)