The Malaysian palm oil business performed admirably in 2021, particularly the price of crude palm oil (CPO), which increased by 64.1% to 4,407 RM/MT, its highest level in palm oil history, from 2,685.50 RM/MT in 2020. The increased price was due to limited supply availability as a result of the pandemic's labour scarcity.
Due to improved export prices, palm oil and other palm-based product export revenue grew by RM 29.28 billion (40.1%) to RM 102.34 billion in 2021, up from RM73.06 billion in 2020.
Procurement Resource provides latest prices of Crude Palm Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides Crude Palm Oil prices regions around the globe, as follows:
About Crude Palm Oil:
Crude Palm Oil is known as an edible oil that is derived from the pulp of fruit of oil palms. In appearance, the colour of this pulp is red and so is the colour of crude oil. This colour is the result of high inactive vitamin A content. Crude Palm Oil is also known to be distinct from kernel oil or coconut oil.
One of the primary industrial process by which Crude Palm Oil is produced or manufactured is basically the extraction process. It is prepared by deriving or obtaining the oil from the raw palms.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).