Palm oil on the European vegetable oils market edged higher on Tuesday due to a weak dollar and following gains in Malaysian palm oil futures on the back of stronger energy markets. Asking prices for palm oil were mostly between unchanged and $5 a tonne higher as a weak dollar underpins products quoted in that currency. Malaysian palm oil futures closed between one and 22 ringgit per tonne up as stronger energy prices could boost demand for vegetable oils by biodiesel producers. Malaysian palm oil exports so far in September were well up from the same period last month and also supported futures.
At 1630 GMT, CBOT soyaoil futures were between 0.01 and 0.06 cents per lb higher as pressure from technical selling was offset by gains in energy markets.
EU rapeoils were quoted between three and 10 euros per tonne higher on technicals and because of strong energy prices.
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