* Indonesia to cap export tax * Markets focus on U.S. Fed chairman Bernanke's Friday speech * Global econ will not hit demand of Malaysia commods-official (Adds details, comments) By Niluksi Koswanage and Angie Teo KUALA LUMPUR, Aug 25 (Reuters) - Malaysian palm oil futures fell on Thursday on worries over slower overseas demand after top producer Indonesia revised its export tax structure that could make its shipments cheaper and on caution over the global economy. Indonesia, the world's top palm oil producer, will cap its export tax for the edible oil at 22.5 percent from 25.0 percent previously, a trade ministry official said on Thursday. The changes, which take effect from Oct. 1, could make shipments cheaper than those from the world's No.2 producer, weighing on Malaysian palm oil futures. "The Malaysian market fell because Indonesia has made changes that makes its own exports more competitive now," said a trader with a foreign commodities brokerage in Kuala Lumpur. The benchmark November crude palm oil contract on Bursa Malaysia Derivatives KPOc3 fell as much as 1.9 percent to 2,978 ringgit ($1,000.504) a tonne before paring some losses to end 1.4 percent lower. Overall traded volume was 20,899 lots of 25 tonnes each, below the usual 25,000 lots. Palm oil has lost about 20 percent so far this year thanks to a stock build and financial markets turning volatile over the grim economic outlook. Many markets are looking for some new cues from U.S. Federal Reserve Chairman Ben Bernanke's speech on Friday and any failure to offer a clear hint of further monetary easing may trigger a fresh sell-off. But Malaysian's Commodities Minister said demand for palm oil, tin and rubber may not be hit too much by a global slowdown and Chinese imports of the edible oil are set to rise next month as buyers stock up. Technicals look positive. Reuters analyst Wang Tao said palm oil is expected to hover around support at 3,030 ringgit per tonne, before rising towards 3,074 ringgit. Exports posted solid growth with cargo surveyor Intertek Testing Services reporting Aug. 1-25 palm oil shipments rose 6.3 percent to 1.36 million tonnes from a month ago. Another surveyor, Societe Generale de Surveillance, showed exports up 5.5 percent over the same period. Higher exports are likely to bring stocks well below 2 million tonnes as production falters with mostly Muslim estate workers taking extended leave for Eid celebrations in late August. Grains and other vegetable oil prices came under pressure on expectations of ample supply and caution ahead of Bernanke's speech at Jackson Hole. U.S. soyoil for September delivery slipped 0.8 percent during Asian hours, and the most active May 2012 soyoil contract on China's Dalian Commodity Exchange inched 0.4 percent lower. Palm, soy and crude oil prices at 1010 GMT Contract Month Last Change Low High Volume M'ASIA PALM OIL SEP1 3108 -22.00 3099 3130 133 M'ASIA PALM OIL OCT1 3030 -40.00 3016 3079 2707 M'ASIA PALM OIL NOV1 2994 -42.00 2978 3043 11263 M'ASIA PALM OIL DEC1 2980 -42.00 2967 3030 4246 DALIAN SOY OIL MAY2 10130 -38.00 10116 10182 262738 CBOT SOY OIL DEC1 55.90 -0.43 55.89 56.39 950 NYMEX CRUDE OCT1 85.41 +0.25 84.93 85.90 15279 Palm oil prices in Malaysian ringgit per tonne CBOT soy oil in U.S. cents per pound Dalian soy oil in Chinese yuan per tonne Crude in U.S. dollars per barrel ($1 = 2.976 Ringgit) (Editing by Sugita Katyal)

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