MDEX: Palm oil closes lower on Monday.

The May contract of palm oil closed the session this Monday (6) with a slight drop of 0.34% in Malaysian Derivatives Exchange (MDEX), quoted at US$ 1,186.25/ton. The June contract fell 0.50%, to US$ 1,194/ton. 

In this trading session, palm oil prices continue to be influenced by volatility in the market. oil prices in the international market. Fuel prices were pressured while the market awaits updates on an agreement between the United States and the Iran towards the end of the war in Middle East.

Lower oil prices make palm oil a less attractive option as biodiesel raw material. 

THE Malaysian ringworm It stabilized on an upward trend (+0.07%) against the dollar, a factor that makes palm oil more expensive for foreign buyers. 

On the radar, the market awaits the release of official supply and demand data for the commodity in Malaysia, which will be reported by… Malaysian Palm Oil Board (MPOB) April 10th. 

This text was translated by machine from Brazilian Portuguese.