Asking prices for palm oil on the European vegetable oils market were firmer on Tuesday following gains in Malaysian palm oil futures on the back of concerns over slow production. Palm oil was offered between $7.50 and $20 a tonne up from Monday after Malaysian palm oil futures closed between 18 ringitt and 55 ringgit a tonne higher on weak output and weakness in the currency, which makes the oil cheaper for foreign buyers and could bolster export demand.

Copyright Reuters, 2017