European vegoils- Palm oil inches up on ringgit, industry event
GDYNIA, November 3 (Refinitiv) - Palm oil on the European vegetable oils market edged up on Friday on the back of a stronger ringgit and ahead of next week's MPOB supply/demand report. Trade was thin as many market participants were attending the industry conference in Bali.
Asking prices for palm oil were between flat and $15 a tonne up from Thursday, while losses in Malaysian palm oil futures at close on concerns about rising stocks weighed.
At 1700 GMT CBOT soyoil futures were between 0.85 and 1.97 cents per pound down, following lower energy prices.
EU rapeoil was offered between 10 euros a tonne down and 10 euros a tonne up from Thursday, tracking stronger European rapeseed futures, while weakness in Chicago soyoil and energy prices limited gains.
Lauric oils were offered between $30 a tonne down and $25 a tonne up. Weakness in palm oil futures pressured prices, while a weaker dollar supported prices.