Saturday, 28 March 2015 01:24
LONDON: Palm oil prices were lower on Friday in European trading, tracking a reversal in the crude oil market as tensions in the Middle East appeared to ease.
RBD palm olein for July/September shipment traded at $ 595.00 per tonne, fob Malaysia, down $ 14.00 from Thursday, while asking prices for palm oil products also fell.
CBOT soybean oil prices also retreated, with May off 2.0 percent at 30.56 cents per lb at 1725 GMT.
Weakness in crude oil prices has helped curtail demand for palm oil and soybean oil from the biodiesel sector.
Copyright Reuters, 2015
