Image: Pixabay
The June palm oil contract on the Malaysian Derivatives Exchange (MDEX) ended this Monday's session (22) with a strong depreciation of 13.25 points and 1.61%, at US$ 807.75/tonne; July fell 12.75 points and 1.61%, at US$ 778.25/tonne.
Intertek Testing Services points out that Malaysian palm oil exports between May 1st and 20th increased by 1.6% compared to the same period last year, below the increase of 4% seen from May 1st to 15th.
{module Form RD}
Furthermore, a study by the Food and Agriculture Organization of the United Nations (FAO) predicts intense rains in Argentina starting next month. The South American country is the largest global exporter of soy products.
The product also remained under pressure due to the resumption of Ukrainian exports of sunflower oil through the Black Sea.
Source: datagro
