Palm oil on the European vegetable oils market was stronger, tracking gains in Malaysian palm oil futures on positioning ahead of Wednesday’s MPOB supply/demand and stocks report. Prices for palm oil were between unchanged and $10 a tonne higher after Malaysian palm oil futures closed between 13 and 31 ringgit higher as futures traders anticipate better exports ahead of data due later this week. CBOT soyoil futures were between 0.27 and 0.41 cents per lb lower.
Delhi Mustard oil weakens on subdued local demand.
Mustard oil prices softened by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market owing to sluggish local demand. Castor oil in the non-edible section, also eased on reduced offtake by consuming industries. Sluggish demand from local parties, mainly weighed on mustard oil prices. National Commodity and Derivative Exchange, mustard seed to be delivered in January declined 0.62 per cent.The delivery for the most-active February fell 0.53 per cent, clocking an open interest of 34,640 lots.