Breaking News-RTRS-Europe oils-Palm prices seen steady before boost in 2010

AMSTERDAM, Dec 11 (Reuters) - Palm oil's upward potential may be limited in the near-term but rising demand, strength in other edible oil markets and increased speculation are seen driving prices up in early 2010, analysts said on Friday.
Prices of the tropical oil, used in products ranging from margarine to lipstick, have risen in recent months, boosted by a recovery in mineral oil prices, gains in soy oil prices and firm demand due partly to its relative discount to other oils.
Malaysian palm oil futures prices hit a six month high last week, but have pulled back in recent days on profit taking and broad weakness in commodities, with the market seen range-bound until the end of the year, traders said.
In the longer-term, prices could appreciate due to seasonally declining production and comparatively strong world demand, market experts said.