Palm oil prices rose almost 1% on MDEX this Tuesday.

The June contract of palm oil closed Tuesday's session (19) with a moderate increase of 0.97% in Malaysian Derivatives Exchange (MDEX)The price for the futures contract, quoted at US$1,141.75/ton, advanced 0.94% to US$1,149.50/ton. In this trading session, commodity prices were supported by the advance… Edible oils on the Dalian Commodity Exchange and Malaysia's plan to raise its biodiesel mandate from B10 to B15 on June 1st, aiming to reduce fossil fuel imports.

However, gains were limited by the decline in oil prices on the international market, after US President Donald Trump suspended a planned attack against Iran to allow negotiations to end the war in the Middle East.

On the demand side, AmSpec Agri Malaysia projects that Malaysian palm oil shipments during the period of May 1-15 fell 16.5% compared to the same period in April.

This text was translated by machine from Brazilian Portuguese.