European vegoils-Rapeoil slides as EU biofuel producers sell

LONDON: EU rapeseed oil prices fell on Thursday following news that Argentina will regain access to the EU's biodiesel market within three weeks.

"That was driving the biodiesel guys to sell rapeseed oil," one dealer said.

Rapeseed oil is widely used by the EU's biodiesel industry.

Dealers said trading was very active.

Palm oil prices were higher following a rise in Malaysian futures earlier in the day to a 26-week high.

Palmkernel and coconut oil prices tracked gains in palm.

Dealers said a run-up in CBOT soyoil provided initial support although the rally appeared to run out of steam later in the session.

The most active CBOT soyoil contract was up 0.1 percent at 35.59 cents per lb at 1605 GMT, well below the day's high of 36.06 cents.