Palm oil on the European vegetable oils market firmed on Monday due to a strong Malaysian ringgit and in sympathy with gains in Malaysian palm oil futures, which were supported by fears that rains could disrupt supplies. "The strong ringgit should weigh on palm oil futures, but belief that demand will remain good and that wet weather could reduce production kept futures strong and added to the strength in Europe," one broker said.
Palm oil was offered between $5 and $17.50 a tonne up from Friday after Malaysian palm oil futures closed between unchanged and 25 ringgit per tonne up on supply fears. December delivery RBD palm olein changed hands at $820 a tonne fob Malaysia and January-March traded $2.50 a tonne up from Friday at $805, $810 and back to $812.50. At 1730 GMT CBOT soyaoil futures were between 0.07 and 0.15 cents per lb down in sympathy with weakness in soyabean futures on harvest pressure and technical selling. Liquid oils - rapeoil, soyaoil and sunoil - were offered between unchanged and four euros per tonne down from Friday.
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