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Sellers cut asking prices for crude palm oil by $2.50 to $7.50 a tonne on nearby positions.
Malaysian palm oil futures prices fell on Tuesday, with a run of daily gains coming to an end on slowing demand and profit-taking ahead of a public holiday on Wednesday.
Trading is likely to be thin on Wednesday, when Malaysia celebrates the Hindu festival of Diwali.
The recent rise in prices had been fueled by robust demand as key consumers India and China rebuild stocks.
EU rapeseed oil prices were little changed, underpinned by weakness of the euro against the dollar and a rise in CBOT soyoil.
The most active CBOT soyoil contract rose 0.2 percent to 33.65 cents per lb by 1540 GMT.