Markets

Palm oil down on euro zone fears

Published Updated

Palm oil was offered between $2.50 and $10 a tonne down after Malaysian palm oil futures closed between 11 and 16 ringgit per tonne down following renewed fears over the euro zone debt crisis.

April/June RBD palm olein traded $7.50 a tonne down from Friday between $1,035 and $1,042.50 a tonne fob Malaysia, and July/Sept fetched $1,027.50 fob, down $10.

Liquid oils - soyoil, rapeoil and sunoil - were untraded, with asking prices between 5 euros up and 5 euros down, lacking direction from the CBOT market in the United States, which was closed on Monday for a public holiday.

Lauric oils eased $14 to $20 a tonne from Friday following the trend in palm oil and because of a strong dollar. Buyers showed little interest and no deals were reported.

Copyright Reuters, 2012