European vegoils: palm oil falls on poor exports

Palm oil on the European vegetable oils market eased on Monday on poor exports for the first 15 days of February and due to a strong dollar. "Palm oil exports were still below par compared to the same period last month, but they were much better than the comparison for the first 10 days of February. Otherwise the market was fairly slow due to the absence of a direction from Chicago due to Presidents Day holiday," one broker said.
Palm oil was mostly offered between $5 and $15 a tonne down from Friday after Malaysian palm oil futures closed between 41 and 53 ringgit per tonne lower, weighed down by weaker-than-expected export data, which sparked some profit-taking following recent gains. Liquid oils - EU rapeoil, soyaoil and sunoil - were mostly offered between two and five euros a tonne up on the back of firmer rapeseed futures and because of a stronger dollar, which supports products priced in euros.