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European veg oils prices little changed at close

LONDON: European vegetable oil prices were little changed at the close of business despite news of an Indian tender and talk of a possible Chinese wash-out.

India's State Trading Corporation was seeking 6,000 tonnes of palm olein at a tender on Wednesday but so far there had been no news and traders said it seemed likely they had passed.

Traders were unable to confirm or deny rumours from the Far East that China had washed-out contracts for 40,000 tonnes of palm products.

"We have heard the rumours but can't get any confirmation," said one trader.

Crude palm oil cif Europe closed $2.50 down to unchanged after Apr traded at $540 a tonne cif.

RBD palm oil was unchanged at the close while olein was unchanged to $2.50 lower.

Coconut oil sellers were $5 to $10 up after May/Jun traded at $725. Palmkernel oil was offer $5 up but found no buyers.

Lower Chicago futures at the opening on Wednesday afternoon came too late to have any effect on closing soft oil prices in Europe.

Soy oil 0.25 guilders up and rape oil unchanged to 0.50 guilders higher in tradeless markets.-Reuter