Malaysian crude palm oil futures surrendered gains to end on Thursday's session slightly lower, as weaker exports kept a lid on prices.
Gains in rival US soyaoil had supported the market. The benchmark third-month July contract on Bursar Malaysia Derivatives was down one ringgit at 1,445 ringgit ($403.4) a tonne, off a high of 1,451.
Other contracts were down between one and four ringgit. Overall volume stood at 3,180 lots of 25 tonnes each, up from Wednesday's level of 1,888 lots. Traders said they expected further liquidation in the afternoon ahead of Friday's holiday to mark the Buddhist Vesak Day.
Cargo surveyor Society General de Surveillance said on Wednesday 348,719 tonnes of oil palm products were exported during May 1-10, down 7.1 percent from the 375,355 tonnes shipped between April 1-10.
Traders had expected higher export figures. On Wednesday, Chicago Board of Trade soyaoil futures ended firm, with May soyaoil rising 0.25 cent to 24.95 cents per lb and July up 0.20 to 25.28 cents. In electronic trading on Thursday, July soyaoil rose another 0.10 cent to 25.38 cents per lb.
In the physical market, May crude palm oil was offered at 1,425 ringgit a tonne in central and southern regions, against bids of 1,422.50 ringgit. Trades were done at 1,415 to 1,425 ringgit.
For June crude palm oil, sellers were offering 1,437.50 ringgit a tonne in central and southern regions, against bids of 1,432.50 ringgit. Deals were done at 1,432.50 to 1,435 ringgit.