VEGOILS-Palm oil falls on rising June stockpile

JAKARTA, July 10 (Reuters) - Malaysian palm oil futures fell on Thursday, snapping three sessions of gains as inventory in the world's second-largest palm oil exporter rose to an 18-month high.

The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange was down 10 ringgit, or 0.24%, to 4,147 ringgit a metric ton at closing.

"Weaker-than-expected exports in June 2025, combined with an increase in stockpile levels, pressured prices," said Darren Lim, commodities strategist at brokerage Phillip Nova.

Malaysia's palm oil stocks rose 2.41% to 2.03 million metric tons at the end of June, the fourth consecutive monthly increase, as an unexpected drop in exports outweighed the slump in production and a spike in domestic consumption, data from the Malaysian Palm Oil Board (MPOB) showed on Thursday.

Exports of Malaysian palm oil products for July 1-10 are estimated to have risen between 5.3% and 12%, according to data from cargo surveyor Intertek Testing Services and inspection company AmSpec Agri Malaysia.

Dalian's most-active soyoil contract DBYcv1 was up 0.28%, while its palm oil contract DCPcv1 lost 0.21%. Soyoil prices on the Chicago Board of Trade BOc2 rose 0.81%.

Palm oil tracks prices of rival edible oils, as it competes for a share of the global vegetable oils market.

Palm oil FCPOc3 may retest support at 4,134 ringgit per metric ton, a break below which could open the way towards the 4,096 ringgit to 4,115 ringgit range, according to Reuters technical analyst Wang Tao. TECH/C