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KUALA LUMPUR, April 6 - Malaysian palm oil futuresinched up on Tuesday for a second consecutive day, lifted byhigher rival soyoil and crude, while signs of low inventory andimproving exports further boosted sentiment.
The benchmark palm oil contract for June deliveryon the Bursa Malaysia Derivatives Exchange rose 38 ringgit, or1.02%, to 3,777 ringgit ($914.09) a tonne during early trade.
* Sri Lanka on Monday banned imports of palm oil and newpalm plantations, and told producers to uproot existingplantations in a phased manner, in a surprise move that baffledthe edible oil industry.
* Malaysia's palm oil inventories likely inched higher bythe end of March as production advanced for the first time insix months, though a surge in exports kept supply tight, aReuters survey showed on Monday.
* Palm oil exports from Malaysia during April 1-5 rose 10.6%from the same period in March, cargo surveyor Intertek TestingServices said on Monday.
* Dalian's most-active soyoil contract gained 1.8%,while its palm oil contract were up 0.8%. Soyoil priceson the Chicago Board of Trade rose 0.5%.
* Palm oil is affected by price movements in related oils asthey compete for a share in the global vegetable oils market.
* Oil prices rose as a drop in the U.S. dollar made crude amore attractive buy, paring losses of more than 4% incurredovernight on the prospect of producers returning more than 2million barrels per day of supply to the market by July.
* Palm oil may break a support at 3,687 ringgit per tonneand retreat to the next support at 3,610 ringgit, Reuterstechnical analyst Wang Tao said.
* Asia's stock markets rose on Tuesday as another batch ofstrong U.S. economic data bolstered the global outlook, whilecurrency and bond markets paused for breath after a month ofrapid gains in the dollar and in U.S. Treasury yields.
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($1 = 4.1320 ringgit) REUTERS