ROTTERDAM: Palm oil on the European vegetable oil market eased on Thursday as delays on the Greece bailout caused concerns and made the euro dip, market sources said.
"The euro debt crisis weighed on prices but a volatile dollar due to the crisis caused many buyers to remain cautious," one broker said.
Palm oil was offered between $5 and $7.50 a tonne down from Wednesday after Malaysian palm oil futures closed between unchanged and 27 ringgit per tonne down on the euro debt worries and fears that slow exports could lead to a rise in oil stocks.
April/June RBD palm olein changed hands between $1,077.50 and $1,085 a tonne fob Malaysia, down $7.50 from Wednesday, July/Sept traded $7.50 down between $1,075 and $1,082.50 and Oct/Dec fetched $1,077.50 and $1,079 fob. Crude palm oil traded at $1,100 a tonne cif Rotterdam for March shipment and July/Sept changed hands at $1,095.
At 1730 GMT CBOT soyoil futures were between 0.24 and 0.38 cents per lb down on a strong dollar at the start of the session and talk about more beneficial rains in South American soybean crop areas.
EU rapeoil was offered two to five euros per tonne down from Wednesday in a slight technical rebound from Wednesday's gains and the trend in Chicago, while soyoil was offered around five euros up following the strength in the dollar during most of the European day and because of worries over Brazilian soybean shipment delays from Santos due to the collapse of a vessel.
EU rapeoil changed hands at 970 euros per tonne fob exmill for May/July, down six euros from Wednesday, Aug/Oct traded at 965 euros and Nov/Jan traded four euros lower at 964 euros fob. July/Sept EU sunoil fetched $1,235 a tonne extank.
Lauric oils were offered between $10 and $25 a tonne down from Wednesday, following the trend in palm oil and because of dollar strength after March/April coconut oil trade at $1,420 a tonne cif Rotterdam.
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