OREANDA-NEWS. February 16, 2015. Prices on the European vegetable oils market rose on Friday, as strong demand helped CBOT soyoil to climb to its highest level in more than three weeks.

European Union rapeoil for May/July delivery traded at 661 euros a tonne, up 3 euros from the prior day, while EU soyoil offers were up to 5 euros higher.

CBOT March soyoil was up 1.6 percent at 32.52 cents a lb at 1750 GMT after earlier peaking at 32.58 cents, its highest level since Jan. 22. Palm oil prices also advanced, boosted by buying ahead of upcoming Lunar New Year holiday late next week.

RBD palm olein for April/June shipment traded up to \\$660 per tonne, up \\$10, while crude palm oil for July/September changed hands at \\$690 per tonne, up \\$22.50.