KUALA LUMPUR, June 21: Malaysian crude palm oil futures rebounded from early losses to end higher on Thursday, lifted by speculative buying and firmer prices of rival US soyabean oil.

Fears over declining exports and rising supplies had weighed on the market earlier, dealers said.

The benchmark September contract on the Bursa Malaysian Derivatives Exchange closed up 11 ringgit at 2,388 ringgit ($692) a ton after touching an intra-day low of 2,354.

Production could outpace demand sooner than expected, said

one trader. Soyaoil is supportive but only to an extent. Dealers said production had started to increase at a faster rate in the second half of June compared with exports, which were steadily declining.

Palm oil is nearly 14 per cent off a high of 2,764 ringgit reached earlier this month.

Other traded months were up 25 ringgit to down 19 ringgit.

Overall trade was 11,384 lots of 25 tons each.

September palm oil on Singapore's Joint Asian Derivatives Exchange shed $5.00 at $690.25 a ton while distant months were firmer in light trade.

Exports of Malaysian palm oil products for June 1-20 fell 15 per cent to 661,626 tons from 775,979 tons shipped between May 1 and 20, cargo surveyor Intertek Testing Services said on Wednesday.

In Malaysia's physical market, crude palm oil for June shipment in the southern region was quoted at 2,500/2,530 ringgit a ton. Trades were done between 2,500 and 2,530 ringgit.—Reuters