MDEX: Palm oil closes moderately higher on Tuesday.

The April contract of palm oil closed Tuesday's session (31) with a moderate increase of 0.95% in Malaysian Derivatives Exchange (MDEX)The price for the Brazilian crude oil futures contract rose 0.62% to US$1,169/ton. The May contract advanced 0.62% to US$1,185.75/ton. For the month, futures accumulated gains of 12.87% and 14.15%, respectively. 

In this trading session, palm oil prices continue to be influenced by the volatility in international oil prices, amid investor uncertainty regarding peace negotiations in the Middle East. 

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

Furthermore, prices followed the positive performance of the commodity in Dalian Exchange (DCE), which registered an increase of 0.74%, while soybean oil advanced 0.12%.

In MalaysiaAccording to the country's cargo inspection companies, exports of the commodity in March increased between 44.3% and 56.7%.

The market is also continuing to react to the statement from the president of… Indonesia, Prabowo Subianto, that the country will continue, this year, with the B50 adoption program, a fuel that blends 50% palm oil-based biodiesel and 50% conventional diesel.

THE Malaysian ringworm The exchange rate weakened 0.50% against the dollar, a factor that makes palm oil cheaper for foreign buyers. 

This text was translated by machine from Brazilian Portuguese.