KUALA LUMPUR, April 6: Malaysian crude palm oil futures closed almost 1 per cent higher on Friday, lifted by rising exports and concerns over supplies. The benchmark third-month June contract on the Bursa Malaysia Derivatives Exchange finished up 19 ringgit, or 0.9 per cent, to 2,109 ringgit ($612) a ton.

Exports are going up, we are expecting much better numbers so prices will firm up, said one dealer.

Since there is a long weekend in Singapore and Indonesia, supply is on a holiday on this side of the world. Traders said the market awaits March exports, production and stocks data to be issued by state-run Malaysian Palm Oil Board on Tuesday.

Next week's data should be interesting because stocks might decline due to good exports, another dealer said.

The market rose more than 3 per cent to an 8-year high this week on the back of a firm global crude oil market and tight palm oil supplies at home. The most active month hit an intraday high of 2,130 ringgit on Thursday, a level not seen since January 1999.

Other traded months rose between 6 and 21 in overall trade of 4,609 lots of 25 tons each.

Dealers said Malaysian refiners in the southern and central regions faced shortages due to a sharp decline in imports from neighbouring Indonesia.

They estimated Malaysia's palm imports from Indonesia in

January and February slipped to around 37,000 tons from about 300,000 tons during the same months in 2006.

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

Exports of Malaysian palm oil products for March 1-31 rose 15.8 per cent to 991,550 tons from 856,192 tons shipped in February, cargo surveyor Intertek Testing Services said.

In the physical market, crude palm oil for April shipment in the southern region was quoted at 2,140/2,150 ringgit a ton.

Deals were done at between 2,130 and 2,145 ringgit.—Reuters