KUALA LUMPUR, Dec 11: Malaysian crude palm oil futures ended up 1.6 percent on Monday as falling estimates of exports were offset by bullish price forecasts, dealers said.

The benchmark February contract on the Bursa Malaysia Derivatives exchange ended up 29 ringgit at 1,894 ringgit ($532.9) a ton. Other months were up between 15 and 35 ringgit. Overallvolume was 10,058 lots of 25 tons each.

Exports of Malaysian palm oil products for Dec 1-10 fell 32.6 per cent to 328,414 tons from the 487,580 tons shipped for Nov 1-10, cargo surveyor Intertek Testing Services said.

The market is awaiting export estimates due on Tuesday fromsurveyor Societe Generale de Surveillance and official crop agency the Malaysian Palm Oil Board.

It looks like the buying was by people who are looking at the market long-term, probably with an eye to biodiesel sales, and who are not really concerned about seasonal factors such as exports, one dealer said.

Another dealer said: But it is also very difficult to ignore what has been said in Bali. If people talk about 2,200 ringgit in the first half, one would be very cautious.

Last week leading palm oil analyst Dorab Mistry told a conference on the Indonesian resort island of Bali that Malaysian crude palm oil prices were likely to be between 2,200 and 2,400 ringgit a tonne between January and March next year.—Reuters