ROTTERDAM: Palm oil on the European vegetable oils market were mostly firmer on Monday, helped by strength in CBOT soyoil futures on hopes that planned talks between the United States and China will ease trade tensions.
Asking prices for palm oil were mostly between $5 and $7.50 a tonne higher, also supported by a stronger ringgit. Malaysian palm oil futures closed between 11 and 21 ringgit up, tracking strong Chicago soyoil.
CBOT soyoil futures were between 0.29 and 0.46 cents per lb higher at 1630 GMT on the back of the planned US-China trade talks. Stronger energy markets also supported soyoil prices.
EU rapeoil was mostly quoted between unchanged and 3 euros a tonne up from Friday, underpinned by the stronger tone in Chicago soyoil futures and stronger energy prices, which could boost demand for vegetable oils from biodiesel producers.
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