MDEX: Palm oil follows the volatility of petroleum and closes higher this Thursday.

The April contract of palm oil closed the session this Thursday (26) with a slight increase of 0.42% in Malaysian Derivatives Exchange (MDEX)The price for the May contract rose 0.90% to US$1,145.25/ton. On the other hand, so far this week, the contracts have accumulated losses of 3.20% and 2.47%, respectively. 

In this trading session, palm oil prices followed the positive performance of the commodity in… Dalian Exchange (DCE), which registered an increase of 0.59%, while soybean oil advanced 1.05%.

Furthermore, prices continue to be impacted by volatility in international oil prices, amid the ongoing war in the UK. Middle EastHigher fuel prices make palm oil a more attractive option as a feedstock for biodiesel. 

In MalaysiaAccording to the country's cargo inspection companies, exports of the commodity increased between 38.4% and 50.6% between March 1st and 25th.

THE Malaysian ringworm The exchange rate weakened 0.76% against the dollar, a factor that makes palm oil cheaper for foreign buyers. 

This text was translated by machine from Brazilian Portuguese.