06/06/2017 (The Times Of India) -  Palm oil on the European vegetable oils market was offered slightly firmer on Tuesday following the long Whitsun weekend due to a weaker dollar and because of a firmer ringgit.

Dollar weakness supports products quoted in that currency, as well as the stronger ringgit, which makes palm oil more expensive for foreign buyers.

Asking prices for palm oil were mostly between $2.50 and $7.50 a tonne up from Friday after Malaysian palm oil futures closed between six ringgit lower and 12 ringgit higher.

"Business was slow as players used most of the first working day of the week for re-orientation," one broker said.

At 1630 GMT CBOT soyoil futures were between 0.05 and 0.19 cents per lb higher, tracking firmer Chicago soybeans, supported by strength in wheat and underpinned by firmer energy markets.

EU rapeoil was offered between six and 10 euros per tonne up, following the firmer trend in both CBOT soyoil and energy markets. Stronger rapeseed futures, taking their cue from CBOT soybeans, also underpinned rapeoil.

Lauric oils were quoted between $15 and $45 a tonne down with sellers looking for buyers, who showed only slight interest. The premium of coconut oil over palmkernel oil was $570 a tonne for July/August shipment. EUROPEAN VEG OILS TRADES

PALM OLEIN RBD, dollars a tonne fob Malaysia Jul 670 Jul/Sep 635 (-10) Oct/Dec 592.50/590 (-5) Jan/Mar 602.50/605 (0)

CRUDE PALM OIL, Sumatra/Malaysia sellers option dollars a tonne Jun 715

 COCONUT OIL Phil/Indo, dollars a tonne cif Rotterdam Jul/Aug 1550/1560

PALMKERNEL OIL Mal/Indo, dollars a tonne cif Rotterdam May/Jun 1095 (Reporting by Karel Luimes, editing by David Evans)