The European vegetable oils market calmed down on Friday after good demand earlier in the week as futures markets slowed their upward pace, market sources said. "Palm oil closed a little down on late selling but prices in Europe were mostly steadier. The absences of Indonesian players dampened demand today," one broker said.
At 1705 GMT CBOT soyoil futures were 0.14 to 0.04 cents per lb up from Thursday. Liquid oils were offered one to seven euros higher on a steady dollar and Chicago, but buyers showed little interest. Sunoil was offered $15 up after October-December traded at $910 a tonne extank. Palm oil was offered flat to $2.50 up after Malaysian palm oil futures closed 4 to 22 ringgit lower. Palm olein changed hands at $840 a tonne fob Malaysia for material for spot delivery.
June shipment crude palm oil fetched $830 a tonne cif Europe, July shipment changed hands at $815 and October-December traded at $792.50 a tonne cif. Lauric oils continued to rise and were offered as much as $10 up from Thursday, but buyers showed no interest and no trades were reported, dealers said.
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