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Palm oil price

Palm oil price

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Palm oil price

palm oil price

Palm oil is an important vegetable oil that comes from the fruit of oil palm trees that originate mainly in West Africa.

There are two types of palm oil: The crude palm oil that comes from squeezing the fruit, and palm kernel oil which comes from crushing the kernel, or the stone in the fruit. Now, Indonesia and Malaysia are considered to be the biggest suppliers for palm oil as they make up over 85% of global supply but there are 42 other countries that also produce palm oil.

It’s used in hundreds of everyday products. Palm oil is the most unsurprisingly consumed as a healthy alternative for trans fats. Palm oil prices are relatively cheap because oil palm trees are evergreen and perennial, they  can produce oil all year around that many other plants can’t

 

Palm oil price in 2020

The Palm oil price has  jumped 40% this year due to the increase in  biodiesel content in automotive fuels, constraining supplies of the commodity to the food industry by Malaysia and Indonesia

The increase in palm oil requirements of India and China has raised the global demand.

Heavy rains across the country caused damage to the oilseed crop and  pushed up prices of edible oils 2.86 % in the past few weeks

 

Here are the changes in palm oil price  during the past six months

Month  Price     price            change

May 2019          563.2    –

Jun 2019           552.19                  -1.95 %

Jul 2019             534.88                   -1.50 %

Aug 2019          586.3                      7.77 %

Sep 2019           580.30           ,       -.99 %

Oct 2019             591.35                1.90 %

palm oil futures prices

 

Analysts expect Palm oil prices to rise more on seasonally slowing output in the months ahead following an unexpected drop in October stockpile.

Traders expect prices to move northward in the New Year from January.

palm oil price

Daily Palm Oil Price in Malaysia

Date     Settlement Price RM

12 Dec 19         2891

10 Dec 19         2878

9 Dec 19           2902

6 Dec 19           2858

5 Dec 19           2815

4 Dec 19           2773

3 Dec 19           2747

2 Dec 19           2733

29 Nov 19         2744

28 Nov 19            2720

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