* June stocks drop 4.33 pct from revised 2.24 mln T atend-May

* Output in June falls 2.58 percent to 1.76 million tonnes

* June exports rise 5.19 percent to 1.69 million tonnes

By Mayank Bhardwaj

NEW DELHI, July 10 (Reuters) - Malaysian palm oil futuresedged up on Friday, extending gains from the previous sessionafter inventories dropped for the first time since February onthe back of lower output and a jump in exports in June.

The September palm oil contract on the BursaMalaysia Derivatives exchange gained 0.3 percent, or 7 ringgit,to 2,192 ringgit ($577) a tonne by the close.

Malaysian Palm Oil Board (MPOB) data showed inventories inJune fell 4.33 percent from a revised 2.24 million tonnes atend-May, the first monthly drop since February.

A Reuters poll had pegged stockpiles to fall 5.4 percent to2.12 million tonnes, based on a median of estimates from fiveplanters, traders and analysts. PALM/POLL

Malaysia's crude palm oil (CPO) production fell 2.58 percentto 1.76 million tonnes, according to MPOB data, slightly lowerthan the forecast of 1.77 million tonnes in the Reuters poll.

Exports of Malaysian palm oil rose 5.19 percent to 1.69million tonnes for June, driven by the absence of CPO exporttaxes during the month and Ramadan demand. The Reuters poll hadput the figure at 1.68 million tonnes. MYPOME-PO

Palm oil consumption typically goes up during the Muslimfestival of Ramadan, when people tend to eat more fried foodafter day-long fasts.

Exports may drop after the festival.

"The market is going to struggle as exports are on adeclining trend after the Ramadan festival is over," said oneKuala Lumpur-based broker. "At the same time we are going to seehigher production in August and September."

Exports of Malaysian palm oil products for July 1-10 fell32.5 percent to 316,492 tonnes from 468,975 tonnes shippedduring June 1-10, cargo surveyor Intertek Testing Services saidon Friday.

Traded volume for palm stood at 20,335 lots of 25 tonneseach, higher than an average 12,500 lots traded.

Palm oil may test resistance at 2,216 ringgit per tonne, abreak above which could lead to a rise to the next resistance at2,250 ringgit, according to Wang Tao, a Reuters market analystfor commodities technicals.

The resistance is provided by the 50 percent Fibonacciretracement on the uptrend from the April 29 low of 2,070ringgit to the June 8 high of 2,362 ringgit, blocking the waytowards the 38.2 percent level at 2,250 ringgit.

The rise in palm oil was in line with higher Chicago soybeanfutures. Soybeans edged higher on Friday, adding to a 3 percentrally in the last session.

In other markets, crude oil prices rose on hopesGreece could soon resolve its debt crisis and as Chinese sharesopened up higher, but analysts said dramatic gains were unlikelyas global production levels remained high.