Palm oil prices on the European vegetable oils market were holding around levels that were little changed on Thursday as slowing exports and rising inventories continued to keep a lid on prices, dealers said. Crude palm oil asking prices ranged from $2.50 a tonne lower to $2.50 higher, while RBD palm olein offers were between $5.00 a tonne weaker and $2.50 firmer.
Exports of Malaysian palm oil products for December 1-10 fell 35.5 percent to 280,445 tonnes from a month earlier, cargo surveyor Intertek Testing Services said. EU soyaoil and rapeseed oil prices were marked down following a weaker close in Chicago on Wednesday. CBOT soyaoil futures, however, rose sharply on Thursday with January up 2.8 percent at 31.99 cents a lb at 1810 GMT. Dealers said the rally was likely to lead to higher asking prices in Europe on Friday.