14/09/2017 (Business Recorder) - LONDON: Palm oil prices were higher on Europe's vegetable oil market on Wednesday, buoyed by a rise in Malaysian futures to the highest level in more than six months.
Dealers said the market was supported partly by gains in energy markets.
Palm oil can be used to make biodiesel as well as a wide range of other products including snack foods and soap.
Crude palm oil offers were raised by $5 to $15 a tonne, cif Rotterdam, with October trading at $750 a tonne, up $10.
Sellers also raised prices for EU rapeseed oil prices by 5 to 6 euros a tonne although buyers declined to follow the market up and no trades were reported.
Laurics continued to be thinly quoted with coconut oil offers raised by about $10 a tonne. The palmkernel oil market was unquoted.