23/05/2017 (Times of India) - ROTTERDAM, May 23 (Reuters) - Palm oil on the European vegetable oils market eased on Tuesday on forecasts for increasing output and weaker Malaysian palm oil futures because of a stronger ringgit currency. Asking prices for palm oil were between unchanged and $12.50 a tonne down after Malaysian palm oil futures closed between 23 and 45 ringgit a tonne lower.

"The strong ringgit pushes futures down because it makes palm oil more expensive for foreign buyers," one broker said.

CBOT soyoil futures were between 0.03 and 0.44 cents per lb lower at 1630 GMT on technical selling after recent gains and because of slightly better than expected U.S. planting progress.

EU rapeoil was offered between 3 euros and 5 euros a tonne lower, tracking losses in CBOT soyoil futures. Prices were also pressured by weakness in rapeseed futures on technical selling.

Coconut oil continued its see-saw course without clear reason, trading $25 a tonne down from Monday and asking prices down by about $20 a tonne. Palmkernel oil followed the trend in coconut oil while lower palm oil futures also weighed. The strong ringgit limited losses. EUROPEAN VEG OILS TRADES

PALM OLEIN RBD, dollars a tonne fob Malaysia Jul 692.50 (+2.50) Jul/Sep 661/662.50 (-3.50) Jan/Mar 623/617.50

CRUDE PALM OIL, Sumatra/Malaysia sellers option dollars a tonne Jun 722.50 (-17.50)

RAPEOIL Dutch/EU, euros a tonne fob exmill Jun 754 Aug/Oct 711 Nov/Jan 713 (-5)

COCONUT OIL Phil/Indo, dollars a tonne cif Rotterdam Jul/Aug 1625 (-25) (Reporting by Karel Luimes; Editing by David Goodman)