Palm oil closes lower on MDEX this Friday.

The May contract of palm oil closed the session this Friday (10) with a sharp drop of 2.01% in Malaysian Derivatives Exchange (MDEX)The price of crude oil, quoted at US$1,133.50/ton, fell 1.89% to US$1,143.00/ton. For the week, futures accumulated losses of 4.77% and 4.75%, respectively. In this trading session, the market reacted to the sharp decline in Malaysian exports. Data from cargo inspectors indicate that shipments between April 1st and 10th fell between 30.7% and 38.9% compared to the previous month. Furthermore, there is concern that increasing production will exceed demand, in a scenario still impacted by the uncertainties of the war in the Middle East. On the other hand, the decline was partially contained by the reduction in stocks. According to the Malaysian Palm Oil Council, reserves totaled 2.27 million tons at the end of March, a decrease of 16.1% compared to the previous month and the lowest level in seven months. In the Asian market, vegetable oil contracts showed a slight increase: soybean oil in Dalian It rose 0.4%, while palm oil advanced 0.11%.

This text was translated by machine from Brazilian Portuguese.