Palm oil prices were lower on Friday in European trading, tracking a reversal in the crude oil market as tensions in the Middle East appeared to ease. RBD palm olein for July/September shipment traded at $595.00 per tonne fob Malaysia, down $14.00 from Thursday, while asking prices for palm oil products also fell.
CBOT soyabean oil prices also retreated, with May off 2.0 percent at 30.56 cents per lb at 1725 GMT.
Weakness in crude oil prices has helped curtail demand for palm oil and soyabean oil from the biodiesel sector.
Dealers noted ample stocks of palm oil had also added to downward pressure on prices.
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