MDEX: Palm oil closes higher on Friday.

The July contract of palm oil closed the session this Friday (26) with a slight increase of 0.46% in Malaysian Derivatives Exchange (MDEX), quoted at US$ 1,101.75/ton. The August contract rose 0.75%, to US$ 1,110.25/ton. On the other hand, futures accumulated losses of 0.90% and 0.74%, respectively, during the week. In this trading session, prices benefited from the appreciation of equivalent soybean and palm contracts on the Dalian Commodity Exchange (DCE), as well as from strong international demand. Malaysian palm oil product exports increased by 11.1% between June 1st and 25th, according to data from the independent inspection company AmSpec Agri Malaysia, while the cargo inspection company Intertek Testing Services recorded a 10.6% increase. Furthermore, Indonesia published its regulations yesterday (25) to implement the B50 biodiesel mandate in the country from July 1st, with a three-month transition period for retailers to liquidate their existing stocks. On the other hand, gains were partially offset by the significant drop in oil prices on the international market, which makes fuels made from oilseeds less competitive.

This text was translated by machine from Brazilian Portuguese.