ROTTERDAM: Palm oil on the European vegetable oils market eased on Tuesday, tracking weaker Malaysian palm oil futures that slipped on concerns about an escalating U.S-Chinese trade war and rising production.
CBOT soyoil futures were also under pressure.
Asking prices for palm oil were between $5 and $15 a tonne lower than Monday, after Malaysian palm oil futures fell to a one-month low.
At 1630 GMT, CBOT soyoil futures were between 0.02 and 0.35 cents per lb lower, tracking weaker Chicago soybeans after the trade row escalation. The US soybean harvest, which is expected to reach a record level, also weighed.
EU rapeoil was offered between two and three euros per tonne lower, following the lower trend in CBOT soycomplex futures and pressured by a weaker dollar, which weighs on products quoted in euros.
Lauric oils were mostly offered between $5 and $15 a tonne lower, tracking lower palm oil and because of a lack of buyers. The weaker dollar, which underpins products priced in that currency, limited losses.
"These are uncertain times and many players are holding back, waiting to see what will happen next," one broker said.
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