Palm oil prices up on European vegoils market

Palm oil prices on the European vegetable oils market gained on Tuesday on stronger soyaoil prices and following Malaysian palm oil futures up, on stronger exports during April. Asking prices for palm oil were between $7.50 and $22.50 a tonne higher after Malaysian palm oil futures closed between 27 and 49 ringgit up. "The stronger palm oil market and a weather market in the US caused demand on the European cash market to pick up a bit," one broker said. At 1630 GMT CBOT soyaoil futures were between 0.47 and 0.57 cents per lb up on technical buying.