Palm oil prices were mostly flat to slightly higher on Friday although remained below week earlier levels with vegetable oil markets dragged down by weakness in CBOT soyabean oil. RBD palm olein offers ranged from $2.50 to $7.50 a tonne higher with January/March shipment last traded at $647.50 a tonne, up $2.50 from last business on Thursday. Prices were, however, still slightly below week earlier levels after falling sharply on Thursday, dragged down partly by a sharp setback in CBOT soyaoil.
The most active CBOT soyabean oil contract was off a further 0.9 percent at 33.02 cents a lb at 1449 GMT on Friday. An improving outlook for the US soyabean crop has weighed on both soyabean and soyabean oil prices, dealers said. EU rapeseed oil offers were unchanged to 2 euros a tonne lower on nearby positions, with prices around 4 to 6 euros below week earlier levels.
Coconut oil prices ranged from unchanged to $10 lower with fairly active trading reported, including September/October shipment at $1,550 a tonne, unchanged from a day earlier.
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