Malaysian palm oil futures broke above RM4,500 per tonne for the first time on record, tracking gains in other vegetable oil prices, on the back of tight global edible oil supplies and shortage of migrant workers on Malaysia’s plantations despite falling demand from India amid a deepening coronavirus crisis. Harvesting has been affected by labor shortage as oil palm estates dependent on foreign workers struggle with a shortage of manpower under a prolonged freeze on hiring by the government due to Covid-19. Stockpiles of palm oil in the world’s second-biggest grower increased 7.1% in April but reserves are still 24% smaller than a year earlier. Meantime, production increased 7%, much slower growth than the almost 30% jump in March; and exports rose 3% to a four-month high. In the broader scenario, palm oil futures also benefited by strength in other agricultural commodities such as corn and soybeans, which have been hovering at multi-year highs.

Historically, Palm Oil reached an all time high of 4513 in May of 2021. Palm Oil - data, forecasts, historical chart - was last updated on May of 2021.

Palm Oil is expected to trade at 4300.51 MYR/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3694.30 in 12 months time.

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Palm Oil


Palm Oil
Crude Palm oil is a vegetable oil and it's used primarily in processed food. The biggest producers of palm oil are: Indonesia, Malaysia, Nigeria, Thailand and Colombia. The contract size is 25 metric tons and it's traded at Bursa Malaysia. The Palm oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day Weekly Monthly YTD Date
Crude Oil
USD/Bbl
66.0300 0.75 1.15% 0.61% 9.72% 36.09% May/12
Brent
USD/Bbl
69.2700 0.72 1.05% 0.45% 8.80% 33.73% May/12
Natural gas
USD/MMBtu
2.9830 0.03 0.95% 1.53% 13.90% 17.49% May/12
Gasoline
USD/Gal
2.1581 0.02 0.85% 0.32% 9.23% 53.05% May/12
Heating oil
USD/Gal
2.0666 0.02 1.22% 3.20% 13.89% 39.26% May/12
Ethanol
USD/Gal
2.3400 0.00 0.00% -4.10% 22.83% 63.29% May/11
Naphtha
USD/T
594.59 2.17 0.37% -0.78% 10.47% 37.41% May/11
Propane
USD/Gal
0.81 0.00 0.24% -1.44% -3.91% 25.00% May/11
Uranium
USD/Lbs
30.9500 0.20 0.65% 0.16% 2.82% 0.81% May/11

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,821.68 15.26 -0.83% 1.97% 4.46% -3.94% May/12
Silver
USD/t.oz
27.152 0.48 -1.73% 2.46% 7.19% 3.01% May/12
Platinum
USD/t.oz
1,219.03 16.37 -1.33% -0.49% 5.45% 14.36% May/12

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,660.5000 23.00 1.40% 4.96% 19.50% 27.07% May/12
Wheat
USd/Bu
754.7500 5.00 -0.66% 0.17% 19.85% 17.84% May/12
Lumber
USD/1000 board feet
1,570.00 59.80 -3.67% -3.97% 32.97% 79.82% May/12
Palm Oil
MYR/T
4,524.00 174.00 4.00% 11.87% 21.42% 25.67% May/12
Cheese
USD/Lbs
1.8120 0.00 0.06% 6.21% 4.56% 10.09% May/11
Milk
USD/CWT
18.89 0.03 0.16% 7.09% 5.77% 19.56% May/11
Rubber
JPY/Kg
260.50 3.50 1.36% 1.36% 19.44% -3.09% May/12
Orange Juice
USd/Lbs
113.60 2.15 -1.86% 7.58% 3.27% -7.83% May/12
Coffee
USd/Lbs
147.65 0.25 -0.17% 2.96% 13.53% 15.13% May/12
Cotton
USd/Lbs
88.09 0.34 0.39% 2.16% 7.66% 12.76% May/12
Cocoa
USD/T
2,476.00 51.00 2.10% 5.18% 2.82% -4.88% May/12
Rice
USD/cwt
13.7250 0.12 -0.83% -1.26% 4.53% 12.13% May/12
Canola
CAD/T
984.40 30.90 -3.04% 5.41% 21.97% 56.38% May/11
Oat
USd/Bu
390.7500 3.75 0.97% -1.94% 4.06% 8.32% May/12
Wool
AUD/100Kg
1,313.00 6.00 -0.45% -1.57% 1.00% 12.13% May/11
Sugar
USd/Lbs
17.87 0.23 -1.27% 1.94% 15.81% 15.36% May/12
Tea
USD/Kgs
2.91 0.00 0.00% 5.05% 9.81% 1.39% May/11
Corn
USd/BU
754.2500 5.25 -0.69% 0.13% 30.04% 55.84% May/12

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
20.30 0.02 0.10% -0.64% -0.68% 11.91% May/11
Feeder Cattle
USd/Lbs
135.3250 0.13 -0.09% 4.30% -6.35% -2.61% May/11
Live Cattle
USd/Lbs
118.6000 0.03 -0.02% 3.65% -3.10% 3.11% May/12
Lean Hogs
USd/Lbs
111.8000 0.33 0.29% 0.38% 6.55% 59.09% May/12
Poultry
BRL/Kgs
7.19 0.02 0.28% 6.20% 15.78% 19.63% May/11

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.7475 0.03 -0.65% 4.59% 17.27% 34.91% May/12
Coal
USD/T
98.50 1.50 1.55% 8.84% 9.48% 21.28% May/12
Steel
CNY/T
5,868.00 165.00 2.89% 9.44% 16.52% 39.05% May/11
Iron Ore
USD/T
224.50 3.50 -1.54% 20.05% 31.29% 41.64% May/11
Lithium
CNY/T
89,000.00 0.00 0.00% -1.11% -1.11% 91.40% May/12
Bitumen
CNY/T
3,106.00 96.00 3.19% 1.57% 12.13% 30.39% May/12
Cobalt
USD/T
44,635.00 530.00 -1.17% -1.17% -10.28% 38.66% May/11
Lead
USD/T
2,201.25 6.50 0.30% 0.80% 12.63% 11.41% May/11
Nickel
USD/T
17,905.75 167.75 0.95% 1.48% 11.30% 8.17% May/11
Molybdenum
USD/Kg
27.00 0.00 0.00% 0.00% -3.74% 14.89% May/11
Aluminum
USD/T
2,498.00 2.70 -0.11% 2.73% 9.66% 26.11% May/12
Tin
USD/T
29,582.50 350.00 -1.17% -0.22% 15.56% 45.62% May/12
Zinc
USD/T
2,964.75 48.50 -1.61% 1.12% 6.40% 7.77% May/12
Palladium
USD/t.oz
2,870.18 67.05 -2.28% -3.46% 6.71% 17.26% May/12
Soda Ash
CNY/T
1,760.00 0.00 0.00% 0.46% 0.46% 31.34% May/12
Iron Ore 62% fe
USD/T
218.38 3.09 1.44% 14.69% 27.68% 40.13% May/12
Manganese
CNY/T
31.50 0.00 0.00% 2.44% 4.13% 0.80% May/11
Neodymium
CNY/T
655,000.00 40,000.00 -5.76% -5.76% -14.38% 5.22% May/11
Rhodium
USD/t oz.
27,700.00 700.00 -2.46% -6.10% -2.81% 62.94% May/11

Index Price Day Weekly Monthly YTD Date
LME Index
Index Points
4,402.20 23.90 0.55% 4.01% 15.47% 28.93% May/11
S&P GSCI
Index Points
2,517.15 16.50 0.66% 1.46% 11.41% 27.32% May/11
CRB Index
Index Points
221.94 1.37 0.62% 2.30% 11.01% 24.48% May/12