European vegoils-Palm oil mostly easier with futures on slow demand

ROTTERDAM: Palm oil on the European vegetable oils market was offered mostly easier on Thursday, mainly tracking weaker Malaysian palm oil futures on concerns over lagging demand and rising stockpiles.

Asking prices for palm oil were mostly between $2.50 a tonne up and $10 down from Wednesday after Malaysian palm oil futures closed between eight ringgit per tonne up and 13 ringgit down, well off the day's lows.

At 1830 GMT, CBOT soyoil futures were between 0.06 and 0.12 cent per lb lower, following easier Chicago soybeans on beneficial rains in Argentine soybean-growing areas and because of technical selling. Stronger energy markets capped losses.

EU rapeoil was quoted between two and nine euros per tonne down, tracking weakness in CBOT soyoil futures.

Lauric oils were offered between $35 and $55 a tonne lower as sellers chased buyers, which were still hard to find. Lower palm oil and a slightly weaker ringgit added to the weaker tone.