Palm oil prices rose on Europe's vegetable oils market on Thursday after a two-week high for Malaysian futures, but sellers later trimmed their offers to stir some demand. Malaysian palm oil futures rallied on the back of a falling ringgit and signs that the El Nino weather phenomenon could already be hurting production in East Malaysia.
A slight bounce in US soyaoil and crude mineral oil after losses on Wednesday also lent support to edible oils markets. Crude palm oil in Europe was offered up to $15 a tonne higher from Wednesday early in the session, but by the end of the day seller prices were unchanged to $2.50 higher. Traders reported a couple of afternoon deals in crude palm oil, as well as clutch of trades in palm olein. In liquid oils, odd deals were also cited in rapeoil and sunoil.