Palm oil prices fell in Malaysia on Wednesday.

The August contract of palm oil, negotiated in Malaysian Derivatives Exchange (MDEX)The Malaysian soybean futures contract closed Wednesday's session (1st) with a slight decrease of 0.14%, quoted at US$ 1,106.25/ton; the September contract fell 0.13%, to US$ 1,113.25/ton. For the week so far, both futures have accumulated losses of 0.36%. In this trading session, prices were pressured by the devaluation of oil in the global market, which reduces the competitiveness of biofuels made with agricultural commodities, as well as by the weakness of equivalent contracts on the Dalian Exchange – the most active contracts for soybean and palm oil traded in Dalian fell 0.32% in this trading session. However, the 0.24% devaluation of Malaysian soybean oil against the dollar limited further losses, making the commodity cheaper in the international market. Furthermore, Indonesia today begins implementing its national B50 fuel program, a blend of 50% palm oil-based biodiesel and 50% conventional diesel, as part of its initiative to achieve energy independence.

This text was translated by machine from Brazilian Portuguese.