31/01/2015 (Reuters) - Palm oil prices were slightly higher on the European vegetable oil market on Friday as the market recovered some ground after a sharp setback earlier in the week.

Dealers noted the trend was in line with the Malaysian futures market where prices bounced off a 6-week low.

RBD palm olein for April/June shipment traded as low as $600 early but then rose to a peak of $608, up from a final trade on Thursday of $602.50.

The shipment period had traded at $637.50 at the end of last week.

Prices have been weighed by sluggish demand and weakness in competing edible oils including soybean oil.

CBOT March soyoil was up 1.15 percent at 29.88 cents a lb at 1735 GMT but was still on course for a weekly loss of more than 5 percent.

U.S. soyoil futures have fallen to their lowest level since December 2008 this week, following an announcement this week by the U.S. Environmental Protection Agency that could clear the way for more soyoil-based biodiesel imports from Argentina.

EUROPEAN VEG OILS TRADES CIF Rotterdam unless otherwise stated - - - - - - - - - - - - - - - - - - - - - - Jan 30, 2015 - 1700 GMT RAPEOIL Dutch/EU euro tonne fob exmill

May/Jul 649, Feb/Apr 2016 655 CRUDE PALM OIL Sumatra/Malaysia slrs option dlrs tonne

Apr/Jun 630 PALM OLEIN RBD dlrs tonne fob Malaysia

Apr/Jun 600/602.50/605/607.50/608 Jul/Sep 585/590