European vegetable oils were broadly lower on Thursday after losses in benchmark Malaysian and US futures, prompting buyers to book some deals. Malaysian palm oil futures fell more than 2 percent in their biggest drop in three months, hit by a stronger ringgit and weakness in soyaoil markets.
In Europe, crude palm oil for July shipment was offered down $5 a tonne from Wednesday, while palm olein for the same period was marked down $12.50. In liquid oils, rapeseed oil for July was down 5 euros. Trades were reported in crude palm oil, palm olein, rapeoil and sunoil (see below). A sharp fall in the dollar, after the US Federal Reserve gave no clear signal on when it will raise interest rates, also made dollar-denominated palm products more attractive in Europe.