JAKARTA, Dec 20: Malaysian crude palm oil futures closed higher on Wednesday, fuelled by concerns about declining supplies this month after floods in the producing area of Johor and despite disappointing export data.

The benchmark third-month March contract on the Bursa Malaysia Derivatives exchange ended up 13 ringgit at 1,868 ringgit ($527.38) a ton after trading between 1,861 and 1,877 ringgit.

At the moment, people are putting aside the low exports, said a trader in Kuala Lumpur. The possible supply problems caused by the floods helped support prices amid a weak export perfomance for the first 20 days of December.

Exports of Malaysian palm oil products for Dec. 1-20 fell 20 Per cent to 670,666 tons from 834,065 shipped between Nov. 1 and 20, cargo surveyor Intertek Testing Services said on Wednesday.

But dealers said palm oil would still trade in a tight range this week as the end-year holiday was approaching, with resistance seen at 1,900 ringgit and support at 1,840.—Reuters