ROTTERDAM: Palm oil offers on the European vegetable oils market were mixed on Thursday ahead of fresh USDA supply/demand and quarterly stocks data, which was issued too late in the afternoon for European players to react to.
Supported by a weaker dollar and a stronger ringgit palm oil was offered at between $5 a tonne up and $5 down as palm oil futures weighed.
Malaysian palm oil futures closed between six and 17 ringgit per tonne down as a stronger ringgit makes palm oil more expensive for foreign buyers and could dampen export demand.
"It was a difficult market with players trying to guess what direction futures would take on the back of the USDA data," one broker said.
EU rapeoil was quoted at between one and three euros per tonne down because of a weaker dollar, which weighs on euro-priced products.
Lauric oils were quoted at between $15 and $30 a tonne up on continued worries over tight supplies and lower production.
The dollar weakness also supported products quoted in that currency.
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