KUALA LUMPUR, July 12 (Reuters) - Malaysian palm oil futures built on gains made last week, rising nearly 1% on Monday, as an uptick in July 1-10 exports aided sentiment, with investors awaiting data from the country's palm oil agency.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 34 ringgit, or 0.9%, to 3,927 ringgit ($937.46) a tonne during early trade. Last week, it jumped 2.7%.
Exports of Malaysian palm oil products for July 1-10 rose between 2% and 4% from the same period in June, cargo surveyors said on Saturday, beating market expectations of a decline in shipments.
The focus is on Malaysian Palm Oil Board data on June supply and demand due later in the day. A Reuters' survey pegged end-June stockpiles to hit a nine-month high, rising 7.5% from May to 1.69 million tonnes.
FUNDAMENTALS
* Dalian's most-active soyoil contract rose 1.7%, while its palm oil contract jumped 2.2%. Soyoil prices on the Chicago Board of Trade were up 1.5%.
* Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
* Signals are mixed for palm oil, as it recovered strongly from last week's drop, Reuters technical analyst Wang Tao said.
MARKET NEWS
* Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
DATA/EVENTS
1200 India Industrial Output YY May
($1 = 4.1890 ringgit)
(Reporting by Mei Mei Chu; editing by Uttaresh.V)
