Palm oil futures hit a fresh record high of MYR 5,080, as the vegetable oil market faces a significant squeeze due to a combination of lower output, supply chain issues, and growing demand from the biofuels industry. The Malaysian Palm Oil Association said crude palm oil production fell 0.39% to 1.703 million tonnes in September, amid labour shortages, flooding in parts of Malaysia and logistical issues related to the coronavirus. For the year, the association caps total output at 18.4 million tonnes, a 0.7 million tonne drop from last year. At the same time, the Indonesia Palm Oil Association sees total palm oil exports climb 1.2% in 2021 in the world’s top producer, as refined palm products more than offset a sharp drop in crude palm oil shipments.

Historically, Palm Oil reached an all time high of 5220 in October of 2021. Palm Oil - data, forecasts, historical chart - was last updated on October of 2021.

Palm Oil is expected to trade at 4198.31 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 4745.75 in 12 months time.

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Palm Oil


Price Day Month Year
Soybeans 1,229.25 5.5000 0.45% -4.28% 13.11%
Wheat 748.50 7.5000 1.01% 4.28% 18.29%
Lumber 679.00 2.70 0.40% 8.29% 27.78%
Cheese 1.78 -0.0080 -0.45% 7.64% -22.73%
Palm Oil 4,906.00 -62.00 -1.25% 10.32% 66.76%
Milk 17.90 -0.06 -0.33% 7.83% -17.24%
Cocoa 2,555.00 50.00 2.00% -3.66% 3.27%
Cotton 107.66 1.52 1.43% 16.84% 51.02%
Rubber 217.40 -7.50 -3.33% 16.44% -18.09%
Orange Juice 125.40 3.70 3.04% -10.46% 12.72%
Coffee 203.30 -2.25 -1.09% 9.98% 90.53%
Oat 663.00 3.0000 0.45% 14.31% 118.45%
Wool 1,369.00 0 0% 0.07% 12.31%
Rice 13.58 0.0100 0.07% -1.81% 10.00%
Canola 937.80 0.40 0.04% 6.94% 70.51%
Sugar 19.09 0.15 0.79% -2.05% 29.69%
Tea 3.09 0 0% 1.31% 15.30%
Corn 536.00 3.7500 0.70% 1.28% 27.85%


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.