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The June palm oil contract on the Malaysian Derivatives Exchange (MDEX) ended this Friday's session (26) with a strong increase of 8.00 points and 1.04%, at US$ 779.00/tonne - however, the weekly accumulated was a loss of 5.12%; that of July rose 14.00 points and 1.82%, at US$ 781.75/tonne.
Supported by the 0.28% contraction in Malaysian ringgit, which increases the product's export competitiveness.
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Kazakhstan's palm oil imports nearly tripled in the first quarter of 2023.
Prices also followed the appreciation of competing commodities, with gains in canola and soybean oil – the latter advanced 1.08% on the Chicago Stock Exchange (CBOT) on Thursday (25).
Source: datagro
