MDEX: Palm oil follows negative performance on the DCE and closes down.

The August contract of palm oil closed Tuesday's session (21) with a moderate drop of 0.74% in Malaysian Derivatives Exchange (MDEX), quoted at US$ 1,108.75/ton. The September contract fell 0.75%, to US$ 1,118.25/ton. 

In this trading session, commodity prices were pressured by negative palm oil yields. Dalian Exchange (DCE), which registered a 1% drop, while soybean oil retreated 0.55% in the Chinese index.

Furthermore, Malaysia's exports of palm oil derivatives fell 0.9% during the period from July 1st to 20th, as projected by… AmSpec Agri. 

Limiting further losses, prices continued to be affected by the rise in oil prices on the international market, amid the crisis in energy flows through the Persian Gulf, after the Houthis They threatened to block the strait of Bab al-Mandab Straitno Red Sea. 

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

This text was translated by machine from Brazilian Portuguese.