MDEX: Palm oil closes lower on Friday.

The August contract of palm oil closed the session this Friday (17) with a slight decrease of 0.45% in Malaysian Derivatives Exchange (MDEX)The price for the Brazilian futures contract, quoted at US$1,108.75/ton, fell 0.49% to US$1,117.5/ton. On the other hand, for the week, the contracts accumulated gains of 0.77% and 0.74%, respectively. 

In this trading session, commodity prices were pressured by negative palm oil yields. Dalian Exchange (DCE), which registered a drop of 0.26%, while soybean oil retreated 0.57% in the Chinese index.

Limiting further losses, prices continue to be impacted by the rise in oil prices on the international market, amid a new escalation of hostilities between the United States and Iran. 

Higher fuel prices make palm oil a more attractive option as a feedstock for biodiesel.

This text was translated by machine from Brazilian Portuguese.