The European vegetable oils market started 2017 on firm footing on Monday, but the market was quiet due to public holidays in many parts of world. "The first trading day was not a very exciting one with so many dealers still off on the New Year break. Sellers were issuing higher prices mostly, but those were not really tested," one broker said.
Crude palm oil was mostly quoted between unchanged and $7.50 a tonne up as sellers took some protection as the Malaysian palm oil futures market was closed on Monday for a public holiday. Liquid oils - EU rapeoil, soyaoil and sunoil- were quoted between flat and $10 a tonne up from Friday, mostly on the back of a strong dollar, which underpins euro-priced products. Asking prices for coconut oil were between flat and $10 a tonne down on the back of a stronger dollar and fading worries over damage done by Typhoon Nok-Ten during Christmas.
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