Prices in Europe's vegetable oil market were higher early on Tuesday but gains were eroded as Chicago soyaoil retreated, while a holiday in Malaysia ensured palm oil activity was subdued. "The past two days have been terrible. Nobody has been willing to give up any serious buying or selling ideas," one European trader said.
The global benchmark Malaysian palm oil market was closed for the end of Ramadan celebrations, the Eid al-Fitr holiday, on Monday and Tuesday but will reopen on Wednesday.
Crude palm oil for January/March delivery traded at $813.00 per tonne while offers were generally little changed from the previous session.
Rapeseed oil was more actively traded with prices declining during the day as US soyabean and soyabean oil futures fell on the prospect of some rainfall in the US Midwest which eased concerns about dryness in the key growing region.
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