Palm oil prices in Europe were lower on Wednesday, depressed by sluggish demand and a decline in rival soyabean oil. RBD palm olein asking prices were trimmed by $2.50 to $7.50 a tonne, with January/March shipments last traded at $635 a tonne, down $5 from Tuesday. Malaysian palm oil futures hit their lowest in nearly two weeks on Wednesday, hurt by weakening demand. Shipments from Malaysia in the first 10 days of September fell 15-16 percent from a month earlier, cargo surveyor data showed.
CBOT soyaoil prices stabilised on Wednesday after a sharp setback in the previous session. The most active contract was down 0.1 percent at 31.81 cents per lb at 1631 GMT. Coconut and palmkernel oil offers were reduced, tracking weakness in other vegetable oil markets, while EU rapeseed oil asking prices were mostly 2-3 euros lower.
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