ROTTERDAM: Palm oil on the European vegetable oils market eased on Monday tracking Malaysian palm oil futures which were lower on technical selling and talk of falling demand.
Asking prices for palm oil were mostly offered between $2.50 and $10 a tonne lower after Malaysian palm oil futures closed between 24 and 39 ringgit per tonne down.
"The European cash market was slow overall due to public holidays in the US, China and the U.K., which kept major futures markets closed. Prices hardly changed during the day," one broker said.
EU rapeoil was offered between flat and five euros per tonne down on slow demand and the weaker tone in palm oil. A bright global oilseed supply outlook also weighed.
Coconut oil was mostly offered between $20 and $70 a tonne down due to lack of buyers and because of a slightly firmer US dollar, which weighs on products quoted in that currency. Palmkernel oil was quoted between $20 and $40 down from Friday, following the weaker trend in palm and coconut oil.
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