VEGOILS — Palm climbs on strong export estimates, poised for second weekly gain

JAKARTA, Oct 16 (Reuters) — Malaysian palm oil futures inched higher on Friday, supported by cargo surveyor estimates showing robust export demand in the first half of October, and were on track for a second consecutive weekly gain. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 5 ringgit, or 0.11%, to 4,730 ringgit ($1,159.03) a metric ton in early trade. The contract has gained 3.09% so far this week. Fundamentals Cargo surveyors estimated that exports of Malaysian palm oil products during October 1-15 jumped between 43.2% and 58.3% from a month earlier. Dalian's most-active soyoil contract fell 1.29%, while its palm oil contract slipped 1.43%. Soyoil prices on the Chicago Board of Trade were down 0.39%. Palm oil tracks rival edible oils, as it competes for a share of the global vegetable oils market. The ringgit, palm's currency of trade, weakened 0.02% against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. India's palm oil imports in September rose 4.5% from August to 817,884 tons, the Solvent Extractors' Association of India said on Thursday. Malaysia lowered its November crude pa