ROTTERDAM: Palm oil on the European vegetable oils market rose on Monday after data showed an increase in Malaysian palm oil exports, which were expected to stay strong this month.
Trading volumes were low, while CBOT markets were closed for the US Labor Day holiday.
* "Although Chicago ended mostly lower on Friday because of profit-taking and an improved weather outlook, asking prices on the European cash market were mostly up as sellers took protection and because of the sentiment in palm oil," one broker said.
* Palm oil was mostly offered between $5 and $10 a tonne up from Friday after Malaysian palm oil futures closed up between 5 and 24 ringgit per tonne. Exports rose in August, according to a cargo surveyor, which triggered expectations for a reduction in Malaysia's still huge palm oil stocks.
* Jan/March RBD palm olein changed hands from $768 up to $770 and back to $767.50 a tonne fob Malaysia, up $12.50 from Friday.
* Liquid oils - rapeoil, soyoil and sunoil - were offered between 6 and 10 euros per tonne up from Friday on the back of strong rapeseed futures because of continued worries over US soybean yields. No deals were reported.
* Palmkernel oil was offered between $5 and $10 a tonne up in sympathy with the trend in palm oil and on improved demand, while coconut oil was quoted flat to $5 down without being seriously discussed. Nov/Dec palmkernel oil changed hands at $900 and $902.50 a tonne cif Rotterdam, while Jan/Feb fetched $910 and Feb/March traded at $912.50 cif.
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