Palm oil futures were around MYR 6,500 a tonne in late May amid prospects tight global supply could ease and as demand from China is seen slowing due to coronavirus curbs. Indonesia, which is the world's top palm oil producer, allowed the resumption of crude palm oil exports and its derivatives but kept a policy of mandatory sales to the local market at a certain price level. In Malaysia, the second-biggest producer, forecasts of good planting weather raised the production outlook. At the same time, Russia recently announced it is ready to provide a humanitarian corridor for vessels carrying food to leave Ukraine, in return for the lifting of some sanctions. Ukraine's Black Sea ports have been blocked since February 24th.

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

Palm Oil is expected to trade at 6325.26 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 7021.07 in 12 months time.

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Palm Oil

Price Day Month Year
Soybeans 1,732.25 5.75 0.33% 2.82% 13.18%
Wheat 1,157.50 14.25 1.25% 6.61% 74.45%
Palm Oil 6,353.00 -180.00 -2.76% -8.11% 58.43%
Cocoa 2,462.00 -2.00 -0.08% -4.39% 2.07%
Cotton 139.42 -1.19 -0.85% -8.92% 69.78%
Rubber 248.00 2.40 0.98% 0.40% -3.43%
Orange Juice 180.95 -2.45 -1.34% 4.66% 52.51%
Coffee 228.60 2.00 0.88% 4.91% 40.81%
Oat 703.75 18.5000 2.70% 4.76% 86.42%
Rice 17.47 0.1950 1.13% 1.84% 31.35%
Canola 1,185.80 6.80 0.58% -1.13% 33.24%
Sugar 19.63 0.09 0.46% 1.08% 13.08%
Tea 2.67 0 0% -13.87% 3.49%
Corn 776.00 11.0000 1.44% -4.61% 18.16%

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
6353.00 6533.00 7268.00 429.00 1980 - 2022 MYR/MT Daily