
The February palm oil contract closed Thursday's session (23) stable with a downward bias (-0.05%) on the Malaysian Derivatives Exchange (MDEX), quoted at US$ 1,004.75/ton, but with an accumulated weekly gain of 1.95%. The March contract fell 1.25 points and 0.13%, to US$ 971.50/t.
In this trading session, the negative performance on the Dalian Stock Exchange, which fell 2.25%, put pressure on commodity prices. As for the soybean yield on the Chinese stock exchange, the most active contract fell 1.29%.
China, the world's largest buyer of soybeans, revealed that five Brazilian companies did not meet plant health standards and, as a result, stopped receiving shipments of the commodity, causing a wave of sales in the markets.
On the eve (22), Achmad Maulizal, an authority at BPDPKS, the Indonesian palm oil funding agency, stated that the entity has already resumed funds to subsidize the mandatory replanting and biodiesel programs for the commodity.
Furthermore, there is also the news about the drop in Malaysian exports of palm products. Between January 1 and 20, exports fell between 18.2% and 23%. These figures were released by cargo inspection companies Intertek Testing Services and AmSpec Agri Malaysia, reinforcing concerns about the market's performance.
On the radar, a Reuters survey revealed a projection of an increase in Malaysian crude palm oil futures contracts in 2025. The forecast indicates an increase in relation to prices recorded in 2024. This expectation is linked to the growth in consumption of biodiesel based on the commodity.
Source: datagro