June 22, 2006	Thursday	Jumadi-ul-Awwal 25, 1427

NEW DELHI, June 21: Malaysian crude palm oil futures ended higher in thin volume on Wednesday on technical short covering and firm soyaoil prices, brokers said.

The benchmark third-month September contract on Malaysia's derivatives exchange ended seven ringgit higher at 1,458 ringgit a ton.

Other traded contracts were up between two and seven ringgit. Overall volume stood at 4,816 lots of 25 tons each, down from 6,144 on Tuesday.

Tuesday but near the previous settlement prices as the market is caught between oversold conditions and promising forecasts for the US soya crop, traders said. The palm oil market is waiting for the next update on exports from Malaysia, the world's largest producer of the commodity.

Local futures closed slightly lower on Tuesday after cargo surveyor SGS reported a slight drop in exports for June 1-20.

SGS and another cargo surveyor, Intertek Testing Services, are due to give their estimates for June 1-25 on Monday.

In the physical palm oil market, trading was dull with sellers offering crude palm oil at 1,410 ringgit and buyers quoting 1,390 ringgit.

There is hardly any activity in the physical market as there is wide variations between buying and selling price, another dealer said. Traders said a few deals took place at around 1,395 ringgit.—Reuters