KUALA LUMPUR, Sept 21 -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rebounded from yesterday's loss to end higher today amid lingering concerns over weaker output, a dealer said.

Palm oil trader David Ng said the decline in production, as reflected in the Southern Peninsula Palm Oil Millers' Association (SPPOMA) data released today, supported prices.

Based on SPPOMA data, local CPO production fell 4.5 per cent for the period of Sept 1-20, 2021.

“I believe concerns over weaker output will continue to support prices in the near term. We locate support at RM4,080 per tonne and resistance at RM4,250 per tonne,” he told Bernama.

At the close, the CPO futures contract for October 2021 added RM27 to RM4,470 a tonne, November 2021 gained RM26 to RM4,303 a tonne, and December 2021 rose RM19 to RM4,192 a tonne. 

January 2022 increased RM13 to RM4,100 a tonne, February 2022 was RM11 higher at RM4,011 a tonne, and March 2022 inched up by RM1 to RM3,909 a tonne.

Total volume improved to 57,872 lots from 47,396 lots on Monday, while open interest added to 246,451 contracts from 240,060 contracts previously.

The physical CPO price for October South was up RM10 to RM4,530 a tonne.

-- BERNAMA