KUALA LUMPUR, April 2: Malaysia's crude palm oil futures slipped on Monday as prices of rival soyaoil declined and players took profits after a rally last week. Dealers said the strong export performance reported by cargo surveyors failed to impress the market.

The benchmark third-month June contract on the Bursa Malaysia Derivatives Exchange finished down 9 ringgit at 2,061 ringgit ($596) a ton.

Overall volume stood at 10,780 lots of 25 tons each.

Malaysian palm oil usually follows the US soyaoil market because both commodities are used in products ranging from food and cosmetics to biodiesel.

It also sometimes tracks crude oil, like other edible oils,because of the growing use of vegetable oils in making biodiesel, which competes with petroleum diesel.

Oil fell further below $66 on Monday, pulling back from a rally that added $10 in little over a week, but Iran's continuing detention of 15 British sailors provided solid price support.

Concerns over gasoline supplies eased with the ending on Saturday of a strike by workers at French Mediterranean oil terminal Fos Lavera, the world's third biggest port for refined oil products.

Malaysian palm oil prices soared 40 per cent last year on the back of biodiesel demand and the market is forecast to rise around 20 per cent this year.

In the physical market, crude palm oil for April shipment in the southern region was quoted at 2,070/2,075 ringgit a ton. Trades were done between 2,060 and 2,070 ringgit.—Reuters