October 17, 2006	Tuesday	Ramazan 23, 1427

KUALA LUMPUR, Oct 16: Malaysian crude palm oil futures closed mixed on Monday as profit-taking pulled the market down after a good export performance and firm crude oil prices lifted it in the morning session.

Exports of Malaysian palm products for October 1-15 rose 30 per cent to 708,014 tons from 544,652 shipped from September 1 to 15, cargo surveyor Intertek Testing Services said.

Another cargo surveyor, Societe General de Surveillance, which is closely watched by the industry, said exports jumped 26 per cent to 696,108 tons.

There was selling in the afternoon session to book profits, said one dealer. Exports are very good. We did not expect such good numbers.

Other traded contracts finished either marginally up or down. Overall volume stood at 11,266 lots of 25 tons each.

Palm oil often tracks crude oil prices, driven by rapid growth in the global biofuel industry based on vegetable oils, which are seen as a cheaper option to fossil fuels.

Demand from Pakistan and the Gulf region is also expected to taper off when the holy fasting month of Ramazan ends this month.

In the physical crude palm oil market, October shipment was quoted at 1,530/1,535 ringgit a ton. Trades were done between 1,510 and 1,535 ringgit a ton.—Reuters