Nov 10 (Reuters) - Malaysian crude palm oil futures extended their rally into a fifth day as heavy rain in palm growing areas of the country was expected to curb production.
The benchmark Malaysia crude palm oil contract closed up about 1 percent at 3,393 ringgit ($1,089). It had hit a fresh two-year high of 3,410 ringgit in morning trade. before falling on concerns of poor demand and a firmer dollar.
Some planters said Malaysia's palm oil production may fall 5-10 percent each month for November and December as heavy rains curb yields and floods make transportation of the vegetable oil difficult.
Palm oil exports data from key export surveyors was also mixed, leading to volatile trading.
Exports of Malaysian palm oil products fell 1.1 percent to 390,534 tonnes for the first 10 days of November, according to cargo surveyor Intertek Testing Services.
The other key cargo surveyor Societe Generale de Surveillance, however, said exports of Malaysian palm oil products for Nov. 1-10 rose 1 percent to 386,762 tonnes from 382,828 tonnes shipped from Oct. 1-10.
Malaysia's October palm oil stocks rose 4.9 percent to a 10-month highs of 1,792,840 tonnes, industry regulator Malaysian Palm Oil Board said on Wednesday. Overall traded volume more than doubled to 29,471 lots of 25
tonnes each
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