ROTTERDAM: The European vegetable oil market rose a little on Friday on hopes for a resolution to the euro debt crisis this weekend, market sources said.
"Markets are cautiously optimistic that a solution will be found to the euro debt crisis, but it also caused players to mostly stay sidelined," one broker said.
At 1630 GMT CBOT soyoil futures were between 0.09 cent per lb down and 0.18 cent up pressured by unwinding spreads.
Liquid oils were offered between unchanged and five euros per tonne up from Thursday on steadier rapeseed futures and firmer mineral oil. EU rapeoil change hands at 920 euros per tonne fob ex-mill, unchanged from Thursday and May/July traded three euros up at 920 euros fob. Jan/March EU sunoil changed hands at $1,080 a tonne ex-tank.
Palm oil was offered between flat and $10 a tonne up from Thursday after Malaysian palm oil futures closed up between 16 and 21 ringgit per tonne on euro zone resolution hopes.
Jan/March RBD palm olein traded $2.50 up from Thursday between $976 and $982.50 a tonne fob Malaysia, and April/June changed hands between $977.50 and $980, down $5.
Lauric oils were offered between flat at $10 a tonne up from Thursday following the trend in palm oil futures and because of a weaker dollar, which supports dollar-priced products. No interest was seen in coconut oil, while Dec/Jan palmkernel oil changed hands at $1,080 a tonne cif Rotterdam.
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