Palm oil on the European vegetable oils market was mostly offered in a tight range on Friday, with expectations for higher July output offset by improved demand. Asking prices were mostly between $2.50 a tonne lower and $2.50 a tonne higher after Malaysian palm oil futures closed between flat and 19 ringgit a tonne down on technical selling.
EU rapeoil was offered between 1 euro and 4 euros a tonne down from Thursday on a mild correction from a rally driven by concerns that Europe's recent heatwave could reduce yields. Lauric oils were mostly offered between $5 and $30 a tonne higher as underlying buying interest picked up. The spread between coconut oil and cheaper palmkernel oil was $65 a tonne for November/December shipment.