* Palm recovers some losses as jump in exports give boost

* Malaysia May 1-25 palm oil exports rise 52.9 pct m/m - ITS

* Indonesia delays $50/T palm levy, could come in two weeks

ended higher on Monday after touching their lowest level this

month, lifted by strong exports in the No.2 grower, but a delay

to export levies in the world's top producer Indonesia mounted

some pressure onto the contract.

Cargo surveyor Intertek Testing Services (ITS) reported

exports of Malaysian palm oil products for May 1-25 rose 52.9

percent to 1,382,782 tonnes from 904,112 tonnes shipped during

April 1-25. Shipments of crude palm oil surged to 528,143 tonnes

during the period, from 58,500 tonnes a month ago.

"Prices recovered in the afternoon on the back of very good

export numbers," said a trader with a foreign commodities

brokerage in Kuala Lumpur.

But palm will likely remain rangebound between 2,100-2,170

ringgit as weak comparative markets dampen sentiment, the trader

added. "Local sentiment for export is very good but overseas the

Dalian and other edible oil markets are weak."

The benchmark August contract on the Bursa

Malaysia Derivatives exchange had edged up 0.3 percent to 2,141

ringgit ($592.50) a tonne by Monday's close. It earlier touched

2,121 ringgit, its lowest level since April 30.

Total traded volume stood at 35,654 lots of 25 tonnes each,

above the average 35,000 lots.

A delay to the implementation of a levy by the world's No.1

producer Indonesia also turned investors uncertain.

"The delayed levy is creating lots of uncertainty, which

equals delay in buying," said second palm trader in Malaysia.

"Stiff competition from Indonesia is the reason behind the lower

prices."

Indonesia's finance minister said the regulation, which will

force exporters in Indonesia to pay a levy of $50 per tonne on

shipments of crude palm oil and $30 for processed palm oil,

could only come in two weeks after public body that will collect

the palm levy is ready.

The Indonesian Palm Oil Association on Friday told Reuters

that delays in establishing guidelines and a new biodiesel fund

or agency meant the implementation date would be pushed back as

far as August, from earlier announcements that the levy would be

introduced in the fourth week of May.

In other markets, crude oil futures dipped below $65 a

barrel as the dollar strengthened on Monday, with a public

holiday in the United States and much of Europe keeping oil

trading volumes muted.

Palm traders are also keeping a watch on the U.S. soy crop

progress - bigger supplies of the oilseed for crushing into

rival soyoil could water down demand for the tropical oil.

Warmer temperatures have been forecast in the coming days in

the U.S. Midwest crop belt which are seen as favourable for

developing corn and soybean plants.

The most active September soybean oil contract on

the Dalian Commodity Exchange was down 0.8 percent in late Asian

trade. The U.S. July soy markets were closed for the U.S.

Memorial Day holiday.

Palm, soy and crude oil prices at 1029 GMT

Contract Month Last Change Low High Volume

MY PALM OIL JUN5 2137 +5.00 2126 2142 280

MY PALM OIL JUL5 2145 +7.00 2124 2154 7075

MY PALM OIL AUG5 2141 +6.00 2121 2151 18552

CHINA PALM OLEIN SEP5 4918 -20.00 4876 4934 461842

CHINA SOYOIL SEP5 5672 -46.00 5632 5694 512664

CBOT SOY OIL JUL5 31.67 -0.20 0.00 0.00 0

INDIA PALM OIL MAY5 447.50 -0.20 445.70 448.30 240

INDIA SOYOIL JUN5 592.00 -3.50 590.00 596.00 17680

NYMEX CRUDE JUL5 59.40 -0.32 59.10 60.06 16362

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 = 3.6135 ringgit)

($1 = 6.2020 Chinese yuan)

($1 = 63.55 Indian rupees)