Palm oil prices in Europe slipped back slightly on Friday after rising strongly earlier in the week but remained underpinned by strengthening demand. RBD palm olein offers ended the day between $7.50 and $10.00 a tonne lower with October/December shipment last traded at $617.50 a tonne, down $5.00 from last business on Thursday.
Prices remained around $20 above week earlier levels. Malaysian palm oil futures fell on Friday from their seven-week highs hit in the previous session. A strengthening dollar also weighed on prices denominated in the US currency but helped to underpin euro-based markets. EU rapeseed oil offers were 3.00 to 5.00 euros higher in nearby positions with February/April delivery traded at 702 euros, up 4.00 euros from business on Thursday.
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