The contracts for June and July of palm oil closed the session this Friday (15) with a slight increase of 0.16% in Malaysian Derivatives Exchange (MDEX)Palm oil futures, quoted at US$1,111.50/ton and US$1,119.75/ton, respectively. However, futures accumulated losses of 2.56% and 2.61%, respectively, during the week. In this trading session, commodity prices were supported by the weakening of the Malaysian ringgit against the dollar, as well as by firmer soybean oil prices traded on the Chicago Board of Trade. Furthermore, it was supported by the significant rise in oil prices amid concerns about attacks and seizures of ships in the Strait of Hormuz. The appreciation of fossil fuels makes palm oil a more attractive option as a raw material for biodiesel production. On the other hand, the decline in… limited further gains. Demand from India, the world's largest importer of edible oils. Data released today by the country shows that…Palm oil imports plummeted 26% from April to March, reaching their lowest level in four months. On the radar is the final day of negotiations between the presidents of the United States and China in Beijing, with investors anticipating signs of easing trade tensions between the world's two largest economies.
This text was translated by machine from Brazilian Portuguese.