Palm oil prices steady on Europe's vegoil market

04 Jun, 2015

Palm oil prices on Europe's vegetable oil market showed signs of stabilising on Tuesday as a run-up in CBOT soyaoil to a 7-month high also stalled. The run-up has been driven partly by the US Environmental Protection Agency decision last week to raise targets for biodiesel production. Malaysian RBD palm olein for July/September shipment last traded at $652.50 per tonne, up $5.00 from Monday, although asking prices ended the day unchanged.

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