SINGAPORE, April 2 (Reuters) - Wilmar International <WLIL.SI> rose nearly 5 percent after the plantation firm said it has won approval from Chinese authorities to increase prices of its cooking oil products, dealers said.

Shares of the palm oil firm, one of China's largest edible oil suppliers, rose to an intraday high of S$4.28 with 5.2 million shares traded.

But the Singapore-listed firm will not activate the 10 percent price hike yet, according to Morgan Stanley analysts.

Morgan Stanley kept its investment rating for the company at "overweight" with a price target of S$5.80.

Lehman Brothers analysts, who upgraded Wilmar to "overweight" with a S$5.00 target, cited volatile prices of soybean and crude palm oil as a key risk

"Prices of soybean/CPO (crude palm oil) remain vulnerable to supply shortages in the event of further weather/tariff disruptions," Lehman analysts said in a client note.

0255 GMT - Straits Times Index <.FTSTI> up 2.41 percent.

(Reporting by Tan Wei Xin; editing by Jan Dahinten) (([email protected]; +65 6403 5667; Reuters Messaging: [email protected]))

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