19/05/2014 (Business Recorder) - Palm oil on the European vegetable oils market was stronger on Thursday due to improved Malaysian palm oil exports during the first 15 days of May. "Palm oil exports improved substantially from last month, which underpinned prices although underlying sentiment is still bearish and that reflected in the overall lack of buying interest today," one broker said.

Palm oil was offered between $2.50 and $7.50 per tonne up from Wednesday after Malaysian palm oil futures closed between 15 and 21 ringgit per tonne up. A jump in export volumes in the first half of the month underpinned prices. At 1730 GMT CBOT soyaoil futures were between 0.20 and 0.32 cents per lb down on technical selling and weak demand for soyaoil. A dip in mineral oil values also weighed on soyaoil futures.

Liquid oils - soyaoil, sunoil, rapeoil - were quoted between unchanged and two euros per tonne up from Wednesday following a stronger CBOT soyaoil futures close and due to a dip in the euro earlier in the day. Weaker rapeseed futures, tracking weaker CBOT soyabeans, limited gains. Lauric oils were offered between unchanged and $5 a tonne up from Wednesday, mostly tracking the trend in palm oil. Little buying interest was seen and no deals were reported.