Crude Palm Oil Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Crude Palm Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Crude Palm Oil Price Trend for Second Half of 2023

In the later months of the year 2023, the global Palm Oil sector experienced a notable uptick driven by heightened demand, limited supplies, and currency fluctuations. Despite concerns over October's Palm Oil stockpile soaring in Asian countries, factors like severe flooding in Indonesia disrupting production and seasonal labor migration contributed to reduced output, leading to increased prices. Rising demand from emerging economies for Palm Oil in processed foods, cosmetics, and biofuels, coupled with its role in industrial production, also supported the industry's growth.

Crude Palm Oil Price Chart

Crude Palm Oil Price Trends

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However, there was a slight avalanche in the market momentum during the end months of the third quarter when global economic parameters overpowered the demand sector of crude palm oil. The depreciation in the European economy and stricter reforms of the US government, in order to keep the economic indicators afloat, limited the trading activities, particularly with Indonesia and Malaysia, which raised the domestic inventories of these countries and resulted in oscillations in the crude palm oil price trend.

Analyst Insight

According to Procurement Resource, the price trend of Crude Palm Oil is estimated to be driven by the slow but steady demand from the downstream industries and the reduction in agricultural output of the globe.

Crude Palm Oil Price Trend for the First Half of 2023

Crude Palm Oil is sourced from palm trees and is majorly exported from Asian countries. It is one of the most commonly used cooking oils. During the first half of the year 2023, the prices showcased a fluctuating trend throughout as the production in exporting countries was in surplus while the demands were on the lower side during the said period.

In the Chinese domestic market, the average spot prices went from 1139 USD/MT in January’23 to around 1033 USD/MT in June’23, showcasing an approximate decline of about 9%. Some reverse upward fluctuations were also observed in the middle of both quarters, but general sentiment remained dull.

The Indian market, on the other hand, experienced an even sharper fall as the demands declined with an approximate depreciation of about 25%, where the spot prices went from around 1350 USD/MT in January’23 to around 1000 USD/MT in June’23. Overall, a negative market sentiment was observed for Crude Palm Oil.

Analyst Insight

According to Procurement Resource, with the given supply situation in the market, the price trend for Crude Palm Oil are likely to remain on a downward trajectory in the upcoming months as well.

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.

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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.

Product Details

Report Features Details
Product Name Crude Palm 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
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.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

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.

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.


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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