KUALA LUMPUR, March 19: Malaysian palm oil futures rose 1.2 per cent in thin trade on Monday as the market expected better export numbers from the cargo surveyors. The benchmark third-month June contract on the Bursa Malaysia Derivatives Exchange finished up 1.2 per cent, or 23 ringgit, at 1,970 ringgit ($563) per ton.

Other traded months rose between 10 and 17 ringgit. Trading is up on a strong tone as exports for the first 20 days are expected to be better than last month, said one dealer.

Overall volume was 5,037 lots of 25 tons each, compared with around 12,000 lots that change hands on a routine day. Cargo surveyors Intertek Testing Services and Societe

Generale de Surveillance will release March 1 to 20 export numbers on Tuesday. Traders said they expect Intertek Testing exports numbers during the period at around 615,000 to 625,000 tons, up from 612,057 tons in February 1 to 20.

Exports of Malaysian palm oil products for March 1-15 fell 8.9 per cent to 454,791 tons from 499,140 tons shipped between Feb. 1 and 15, cargo surveyor Intertek Testing said.

Palm oil prices are set to jump more than 20 per cent by year-end as global oilseed stocks get depleted and demand from the food and fuel sectors surges, industry officials said at a price outlook conference in Kuala Lumpur last week.—Reuters