Palm oil prices rise on European vegoils market

Palm oil prices on the European vegetable oils market were slightly higher on nearby positions on Tuesday, boosted partly by gains in Chicago soyabean oil futures. Sellers raised asking prices for crude palm oil for August and September shipment by up to $5.00 per tonne, also reflecting a higher close on Malaysian palm oil futures.
At 1611 GMT, the most active CBOT soyaoil futures contract was up 1.7 percent at 29.34 cents as the market extended its recent rebound after a prolonged slide during June and the first half of July.