Palm oil closed slightly lower on Thursday at the Malaysian Derivatives Exchange.

The August contract of palm oil closed the session this Thursday (9) with a slight decrease of 0.36% in Malaysian Derivatives Exchange (MDEX)Palm oil futures are trading at US$1,118.00/ton. The September contract fell 0.33% to US$1,127.25/ton. However, for the week so far, futures have accumulated gains of 2.08% and 2.41%, respectively. In this trading session, commodity prices were pressured by profit-taking, given the gains recorded in recent days, and by continued uncertainty regarding the adoption of the B50 program in Indonesia. According to sources cited by Reuters, local fuel traders are awaiting details on allocations for subsidized and non-subsidized participants, as well as the total volumes involved – essential factors in determining the additional demand for palm oil from the program. Limiting further losses, oil continues to rise in the international market, following the end of the ceasefire and the resumption of attacks between the United States and Iran in the Middle East. On the Dalian Commodity Exchange, the most active palm oil contract rose 0.11%, while the soybean oil contract ended unchanged. The Malaysian ringgit also remained unchanged against the US dollar.

This text was translated by machine from Brazilian Portuguese.