Palm oil closes Monday with moderate gains at MDEX.

The contracts for July and August of palm oil, negotiated in Malaysian Derivatives Exchange (MDEX)Palm oil prices closed Monday's session (29) with a moderate increase of 0.79%, quoted at US$ 1,110.50/ton and US$ 1,119.00/ton, respectively. In this trading session, palm oil prices were again supported by market optimism regarding the implementation, from July 1st, of the B50 policy in the country. Last week, the Indonesian Ministry of Energy issued a regulation establishing the guidelines for the new policy. Among the highlights is the determination of a three-month period for the transition of retail stocks and for the liquidation of all current volume. Projections from some cargo inspection companies also had an impact, indicating that Malaysian palm oil product exports, between June 1st and 25th, increased from 10.6% to 11.1% compared to the previous month. On the Dalian Stock Exchange, the The most actively traded soybean oil contract rose 0.65%, while the palm oil contract advanced 1.26%. Palm oil prices often fluctuate with those of other competing edible oils, in a battle for a share of the global vegetable oil market.

This text was translated by machine from Brazilian Portuguese.