19.07.2021 (www.nasdaq.com) - By Mei Mei Chu

KUALA LUMPUR, July 19 (Reuters) - Malaysian palm oil futures rose on Monday for a fourth session in five, as the ringgit eased and fears mounted about tightening global supplies due to a labour shortage in Malaysia and dry weather in several major edible oil producing countries.

The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange gained 48 ringgit, or 1.16%, to 4,185 ringgit ($994.77) a tonne by the midday break, after rising 6.3% last week.

Absence of labourers due to rising COVID-19 cases is haunting Malaysian palm oil plantations, said Anilkumar Bagani, research head of Mumbai-based vegetable oils broker Sunvin Group.

The Southern Peninsula Palm Oil Millers' Association has estimated production during July 1-15 fell by 3.5% from the corresponding period in June, Bagani said.

Hot, dry weather in the United States is also pushing up prices of soybeans on the Chicago Board of Trade as the crop approaches its key pod-setting phase. GRAINS/

Soyoil prices on the Chicago Board of Trade BOcv1 were up 1%. Dalian's most-active soyoil contract DBYcv1 rose 1%, while its palm oil contract DCPcv1 gained 1.5%.

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

The ringgit MYR=, palm's currency of trade, fell 0.21% against the dollar, making the commodity cheaper for holders of foreign currency.

Investors are now awaiting top producers Indonesia and Malaysia to announce their respective palm oil exports duties and levies for August.

The Malaysian bourse will be closed on Tuesday for a public holiday.

Palm oil may test a resistance at 4,260 ringgit per tonne, a break above could lead to a gain into a range of 4,352 ringgit to 4,525 ringgit, Reuters technical analyst Wang Tao said. TECH/C

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(Reporting by Mei Mei Chu; editing by Vinay Dwivedi and Subhranshu Sahu)