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Crude Palm Oil Price Trend

The benchmark crude palm oil futures fell by more than 30% in July 2022 from their peak in March, owing to rising domestic and export availability in Indonesia. The palm oil price crash was exacerbated by recession fears and aggressive crude palm oil selling from Indonesia.

Malaysian benchmark crude palm oil spot prices reached a high of more than 1,900 USD/MT in early March 2022, and have since averaged around 1,450 USD/MT.
This price increase was driven by a weaker outlook for substitute vegetable oil supply due to uncertainty over sunflower seed oil from Ukraine and Russia, the impact of a drought on South American soybeans, and Indonesia's steps to limit palm oil exports.

Due to higher output, crude palm oil prices are expected to fall gradually, with an average benchmark price of 1,000 USD/MT (RM4,220) in 2022, 700 USD/MT in 2023, and 600 USD/MT thereafter.

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.

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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.

Chart Description: 

Procurement Resource provides Crude Palm Oil prices regions around the globe, as follows:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

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.

Industrial Uses: 

  • Frying oil
  • Personal care and cosmetics (primarily palm kernel oil)
  • Biofuel and energy 
  • Animal feed (palm kernel expeller)
  • Pharmaceutical 
  • Industrial 
  • Foodservice/service industry 

Production Processes: 

  • Production of Crude Palm Oil via the Extraction Process.

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.
Supplier Database: 

  • FGV Holdings Berhad 
  • IOI Corporation Berhad
  • Sime Darby Plantation Berhad
  • Musim Mas Holdings Pt. Ltd
  • Bumitama Agri Ltd.
  • Adani Group
  • Emamiltd
  • Asian Agri
  • Apical Group Ltd.

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.


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).

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