Palm oil prices fell slightly in Europe on Monday, weighed down by rising production in Malaysia and weakness in rival vegetable oil markets, dealers said. RBD palm olein offers ended the day between $2.50 and $10 a tonne lower with January/March shipment last traded at $645 a tonne, down $5 from the last business on Friday.
Crude palm oil asking prices were cut by $5 to $15 a tonne. Dealers said a strong export outlook had now been priced into the market which remains sharply above end-July levels. Malaysian palm oil futures fell to their lowest in more than a week on Monday as expectations of a pick up in output offset improving export demand. CBOT soyaoil also fell, with the most active contract down 1.1 percent at 34.18 cents per lb at 1610 GMT. EU rapeoil asking prices were cut by 2 to 4 euros a tonne in quiet conditions with no trades reported.
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