Palm oil prices fell more than 1% in Malaysia on Tuesday.

The July contract of palm oil, negotiated in Malaysian Derivatives Exchange (MDEX)The Malaysian soybean futures contract closed Tuesday's session (30) with a sharp drop of 1.22%, quoted at US$ 1,097/ton; the August contract fell 1.01%, to US$ 1,107.75/ton. In June, futures accumulated losses of 3.33% and 3.06%, respectively. In this trading session, commodity prices followed the negative fluctuations of other competing edible oils. On the Dalian Exchange, the most active soybean oil contract fell 0.14%, while the palm oil contract retreated 0.55%. Limiting further gains, cargo inspection companies project that Malaysian exports of palm oil products grew up to 11.9% in June compared to the previous month. Furthermore, the Malaysian ringgit depreciated 0.37% against the dollar, making the commodity slightly cheaper for buyers who have foreign currencies. Finally, data from the Indonesian Palm Oil Association shows that the country's palm oil exports totaled 2.78 million tons in April, compared to 1.78 million tons in the same month last year.

This text was translated by machine from Brazilian Portuguese.