Malaysian palm oil futures extended gains towards the MYR 5,000-per-tonne mark as dip buyers emerged to blunt a massive meltdown that sent the commodity to a six-month low of MYR 4,500 last week. Still, fundamentals in the palm oil complex remained clouded by rising global supplies and weak export demand from Malaysia. Indonesia has recently announced an export acceleration scheme to ship at least 1 million tonnes of crude palm oil and derivatives. The world's biggest exporter also reduced the maximum export tax rate and levy for crude palm oil to $488 per tonne from $575 per tonne to boost shipments. At the same time, in Malaysia, the production is expected to increase in the months ahead on higher crops and as migrant workers return, while exports for June 1-25 fell between 13% and 19.6% from the same period in May according to cargo surveyors.

Historically, Palm Oil reached an all time high of 7268 in March of 2022. Palm Oil - data, forecasts, historical chart - was last updated on June of 2022.

Palm Oil is expected to trade at 4832.84 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 5377.13 in 12 months time.

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Palm Oil

Price Day Month Year
Soybeans 1,633.25 19.75 1.23% -5.70% 20.36%
Wheat 905.50 -19.75 -2.14% -16.74% 40.17%
Palm Oil 4,922.00 258.00 5.53% -21.02% 40.39%
Cocoa 2,371.00 -26.00 -1.08% -5.01% 0.85%
Cotton 102.00 -1.76 -1.70% -26.61% 19.76%
Rubber 260.00 -10.00 -3.70% 4.42% 9.57%
Orange Juice 168.15 4.00 2.44% -5.19% 44.15%
Coffee 226.00 -0.60 -0.26% -2.27% 39.29%
Oat 621.50 24.5000 4.10% -11.59% 61.32%
Rice 16.05 0.0250 0.16% -8.26% 22.01%
Canola 901.10 18.60 2.11% -24.03% 15.60%
Sugar 18.30 -0.07 -0.38% -5.67% 6.21%
Tea 2.77 0 0% 3.75% 4.14%
Corn 743.25 -7.0000 -0.93% -4.25% 10.03%

Palm Oil
Crude Palm oil is vegetable oil and it's used primarily in processed food. Indonesia and Malaysia constitute 85% of the world's palm oil supply followed by 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.
Actual Previous Highest Lowest Dates Unit Frequency
4922.00 4664.00 7268.00 429.00 1980 - 2022 MYR/MT Daily