MDEX: Palm oil closes higher on Thursday.

The July contract of palm oil closed the session this Thursday (11) with a slight increase of 0.11% in Malaysian Derivatives Exchange (MDEX)The price for the Brazilian crude oil futures contract rose 0.18% to US$1,107.75/ton. The August contract advanced 0.18% to US$1,118.25/ton. On the other hand, so far this week, futures have accumulated losses of 1.38% and 1.06%, respectively. 

In this trading session, prices followed the positive performance of palm oil in Dalian Exchange (DCE), which recorded an increase of 1.17%, while the soybean oil It advanced 0.55% in the Chinese index. 

Furthermore, independent freight companies in Malaysia estimate that the country's palm oil exports increased between 3.5% and 4.9% during June 1st to 10th.

By limiting larger gains, the Malaysian ringgit It appreciated 0.07% against the dollar, a factor that makes palm oil more expensive for foreign buyers.

The report on supply and demand for the commodity in Malaysia, as reported by [source name], continues to generate discussion. Malaysian Palm Oil Board (MPOB), on the eve (10). According to the entity, the The country's exports fell by about 14%., reaching 1.1 million tons in May, the lowest level in a year. 

Stocks of the commodity increased by 5.2% compared to the previous month, reaching 2.4 million tons.

This text was translated by machine from Brazilian Portuguese.