markets and as the recent selloff brought down palm prices to an attractive

level for buyers.

The benchmark palm oil contract for November on the Bursa Malaysia

Derivatives exchange gained 3.2 percent to 1,927 ringgit ($444.39) a tonne, its

biggest one-day gain since June 1.

Traded volume stood at 64,922 lots of 25 tonnes each, well above the roughly

35,000 lots usually traded per day.

"What's positive is that margins are good for local refiners," said a trader

in Kuala Lumpur, adding that the recent market turmoil has widened the price gap

between rival bean oil and palm oil products, making them attractive for the

consumer.

The palm benchmark hit its lowest level since March 2009 on Tuesday and lost

9.4 percent in the six sessions to Wednesday.

A weaker Malaysian ringgit also helped the commodity as it makes palm

cheaper for offshore buyers. The ringgit has been emerging Asia's worst

performing currency, losing 17 percent so far this year, on weakness in global

currencies and domestic politic woes.

However, outlook on supply may continue to weigh in palm prices.

Nitesh Shahra, president of the refinery division of Ruchi Soya,

India's biggest edible oil refiner, says palm prices could drop to 1,800 ringgit

if inventories rise further due to poor demand from biodiesel industry. India is

a top importer of the commodity.

In comparative vegetable oils, the U.S. September soyoil contract was

2 percent higher in late Asian trade, while the most active soybean oil contract

on the Dalian Commodity Exchange was up 0.5 percent.

Oil prices jumped more than 4 percent on Thursday after a rally in equity

markets and an unexpected fall in U.S. crude inventories, but worries over the

health of the Chinese economy and a global oil glut kept the outlook.

Palm, soy and crude oil prices at 1012 GMT

Contract Month Last Change Low High Volume

MY PALM OIL SEP5 1869 +69.00 1808 1869 259

MY PALM OIL OCT5 1892 +56.00 1843 1892 4123

MY PALM OIL NOV5 1927 +60.00 1873 1928 31797

CHINA PALM OLEIN JAN6 4188 +12.00 4078 4196 994968

CHINA SOYOIL JAN6 5314 +26.00 5228 5320 735532

CBOT SOY OIL DEC5 26.97 +5.90 26.48 27.01 9794

INDIA PALM OIL AUG5 358.10 +5.90 352.50 358.70 750

INDIA SOYOIL OCT5 574.50 +5.10 567.50 575.20 45860

NYMEX CRUDE OCT5 40.23 +1.63 38.95 40.40 51618

Palm oil prices in Malaysian ringgit per tonne

CBOT soy oil in U.S. cents per pound

Dalian soy oil and RBD palm olein in Chinese yuan per tonne

India soy oil in Indian rupee per 10 kg

Crude in U.S. dollars per barrel

($1 = 65.9700 Indian rupees)

($1 = 6.4038 Chinese yuan renminbi)

($1 = 4.2180 ringgit)