VEGOILS-Palm oil rises on weaker ringgit, improved demand

* Market hits intraday high of 2,260 rgt/T

* Ringgit falls to weakest level in 9 months

(Updates with closing prices)

By Emily Chow

KUALA LUMPUR, Sept 3 (Reuters) - Malaysian palm oil futures

rose on Monday in a second session of gains, supported by a

weaker ringgit and better demand prospects.

A weakening of palm oil's traded currency usually makes it

cheaper for holders of other currencies. The ringgit fell 0.5

percent to 4.1270 against the dollar, its weakest since Nov. 22.

The benchmark palm oil contract for November delivery

on the Bursa Malaysia Derivatives Exchange closed up

0.4 percent at 2,258 ringgit ($547.13) a tonne, after hitting an

intraday high of 2,260 ringgit.

The contract had jumped 1.4 percent in the previous session,

and had gained 1.3 percent on the week, its strongest weekly

rise in three weeks.

Trading volumes stood at 28,226 lots of 25 tonnes each at

the close of trade. (1FCPO-TOT)

"The weaker ringgit supported the market," a futures trader

in Kuala Lumpur said, adding that expectations of better exports

also lent support to the market.

Data from cargo surveyors Intertek Testing Services and

AmSpec Agri Malaysia showed that palm oil shipments from

Malaysia rose 3-4 percent in August.

A third cargo surveyor, Societe Generale de Surveillance,

reported a 0.4 percent rise in shipments for the same period.

Last month, Malaysia cut its export tax on crude palm oil

for September to 0 percent, which could encourage demand, said

the trader.

In other related oils, the January soybean oil contract on

China's Dalian Commodity Exchange closed up 0.4 percent,

while the Dalian January palm oil contract closed flat.

U.S. markets are closed on Monday.

Palm oil prices are impacted by movements of other edible

oils, as they compete for a share in the global vegetable oils

market.

Palm, soy and crude oil prices at 1101 GMT

Contract Month Last Change Low High Volume

MY PALM OIL SEP8 2207 +9.00 2187 2207 140

MY PALM OIL OCT8 2240 +9.00 2218 2243 2077

MY PALM OIL NOV8 2257 +10.00 2235 2260 13756

CHINA PALM OLEIN JAN9 4894 +0.00 4822 4894 375922

CHINA SOYOIL JAN9 5822 +22.00 5730 5824 366428

CBOT SOY OIL DEC8 28.77 +1.30 0 0 0

INDIA PALM OIL SEP8 600.80 +1.30 599.70 601 806

INDIA SOYOIL SEP8 739.3 +3.55 736.5 739.65 5270

NYMEX CRUDE OCT8 69.91 +0.11 69.53 70.00 73537

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 = 4.1270 ringgit)

($1 = 71.0600 Indian rupees)

($1 = 6.8220 Chinese yuan)

(Reporting by Emily Chow; Editing by Sherry Jacob-Phillips and

Alexander Smith)