LONDON: The European vegetable oils market was mostly higher on Tuesday, boosted by gains in both Chicago and Malaysia as both markets reopened after long holiday weekends.
Crude palm oil sellers raised prices by $5 to $7.50 a tonne cif Rotterdam as Malaysian palm oil futures snapped a four-session losing streak.
Sellers also increased asking prices for palmkernel oil by between $10 and $50 a tonne, though buyers showed little interest at those levels and no trades were reported.
Dealers said the run-up was led by soybean oil, with the most active CBOT contract up 0.6 percent at 35.90 per lb by 1600 GMT.
Talk of rising demand for soybeans from China and concern that cool, dry weather in the US Midwest could hurt this year's US crop helped to support prices.
Coconut oil sellers kept prices around little-changed levels, helping to spark some trading with September/October shipment changing hands at $1,515 a tonne and October/November at $1,495.
The strength of the euro against the dollar kept a lid on EU rapeoil prices, which are denominated in the European currency. Offers remained around the previous day's levels.
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