Palm Kernel Oil Price Trend and Forecast

Palm Kernel Oil Regional Price Overview

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

 

Palm Kernel Oil Price Trend for the Second Half of 2023

Product Category Region Price Time Period
Palm Kernel Oil Agriculture, Farming and Commodity USA 890 USD/MT December’23
Palm Kernel Oil Agriculture, Farming and Commodity USA 925 USD/MT July’23


Stay updated with the latest Palm Kernel Oil prices, historical data, and tailored regional analysis
 

Asia

The palm kernel oil prices in the Asian markets were witnessed to be wavering within confined limits throughout the said period. Due to the El Nino weather effects this year, the major producing Asian countries like Indonesia and Malaysia saw an increased palm production, which created a supply surplus in the region.
 

Palm Kernel Oil Price Chart

Palm Kernel Oil Price Trends

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In the Chinese market, an almost declining pattern was witnessed, while the Indian market operated on a more stable side. Some minimal uptick was observed in the latter half of the fourth quarter, majorly because of the global trade disturbance caused by various geopolitical factors. Overall, a mixed market performance was witnessed.

Europe

The European palm kernel oil market was observed to be mimicking its Asian counterpart during the discussed time span. Quarter three was relatively more inclined than quarter four as the import activities were higher. As the global demand took a dip in the fourth quarter, the prices in the European market also witnessed a marginal slide. Conclusively, a very narrow range price trajectory was observed.

North America

The palm kernel oil prices were observed to be exuding a stable price trajectory in the American market throughout the said period of H2’23. The upstream situation was moderate, with sufficient stocks reaching the inventories. Similarly, the downstream situation in the American market was also steady. The freight disturbances in the latter quarter did hurdle some orders, overall, the market sentiments were lukewarm. The monthly average prices went from around 925 USD/MT in July’23 to about 890 USD/MT in December’23.

Analyst Insight

According to Procurement Resource, not much change is anticipated in the Palm Kernel Oil price trends going forward in the coming months. Given that the inventories are sufficiently stocked, the pricing dynamic appears stable.
 

Palm Kernel Oil Price Trend for the First Half of 2023

Asia

Palm Kernel Oil prices observed oscillating price trend in the Asian region in the first half of 2023. The prices mostly swung low; however, some positive movements could be seen during the quarter shift, primarily attributed to the rise in consumption during various festivities like the Chinese Lunar New Year and Ramadan. The high outputs by palm oil-producing countries, like Indonesia and Malaysia, further aided the fall in price trend. India imported more oil in the first quarter than the second despite falling prices, as inventories had already been oversupplied.

Europe

Almost similar market trend for Palm Kernel Oil were observed in Europe as in Asia. Prices fell throughout the first quarter because of eased and inexpensive imports from exporting Asian countries. But prices observed some positive fluctuations in the second quarter because of a rise in consumption; imports too were hurdled temporarily. But the increased demands from end consumers primarily pushed the Palm Kernel Oil prices in the second quarter.

North America

American Palm Kernel Oil market also followed the global market trend as the prices remained low. Cheaper Asian imports supported the low swinging prices. But supply-demand fundamentals were still good and supportive. In the USA, the Palm Kernel Oil prices averaged at around 982 USD/MT (CIF) in January’23 and went to about 930 USD/MT (CIF) in June 2023 with an approximate decline of about 5%.

Analyst Insight

According to the Procurement Resource, Palm Kernel Oil prices are expected to remain oscillating in the upcoming months as the inventories are running high while the consumption is stable.
 

Palm Kernel Oil Price Trend for the Second Half of 2022

Asia

The Asia-Pacific market showed a mixed trend in the price of palm oil. The demand from the end-user industries contributed to the increase in the prices of the commodity. However, global inflation, export ban, and limited supply of oil played a key role in dipping prices in the fourth quarter and later months of the third quarter. High inventories in the market were another reason for the fall in the prices.

Europe

The European Market saw a decline in the prices of palm oil during the third and fourth quarters of 2022. The decline is majorly attributed to the low consumer demand. The supply chain remains strong during both quarters, and the uplifting of the ban export ban from Indonesia further fueled the supply chain. All these factors led to a decrease in the prices of palm oil.

North America

The North American market saw a decline in the third quarter of 2022. The rise in inventories due to the uplifting of restrictions led to this decline.  The fourth quarter also followed the same trend. The major reason was increased exports from the Indonesian market. This supported the supply, disrupting the supply-demand equilibrium and thus leading to a decline in the prices.

Analyst Insight

The prices of Palm Kernel Oil are likely to decrease during the coming month given the export ban and high inventories of the commodity in the market.
 

Palm Kernel Oil Price Trend For the First Half of 2022

Asia

With the absence of precious Black Sea Sunflower oil from the global market owing to the ongoing Russian and Ukrainian geopolitical stance, the prices of oilseeds and oil soared throughout the global market. With the covid 19 restrictions and the Chinese government orders to divert the palm oil supply for alternate fuel blends the price trend of palm kernel oil soared and recorded staggering values.

With the expensive trade logistics and sanctions on SWIFT payments against Russia the prices of the Bursa Malaysia Derivative palm oil averaged 1627 USD/MT on the eve of war and went to a staggering 1942 USD/MT as recorded on March 1, 2022.

With the Indonesian government banning the exports of palm oil citing domestic reasons and flooding in Malaysia, the already tight supply of palm oil was constricted further. However, the export ban was a temporary measure and the prices stabilized in the Asian market with the Indonesian government lifting the export ban. The prices of palm kernel oil went from 1811.19 USD/MT in May to 1554.50 USD/MT in June 2022.

Latin America

The situation in Latin states was far worse than in the Asian counterpart. The prices of palm kernel oil registered staggering numbers due to the lousy harvest in the region. The entire region suffered from droughts further tightening the global supply chains.

Procurement Resource provides latest prices of Palm Kernel 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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About Palm Kernel Oil

Palm Kernel Oil is known as an edible plant oil that is extracted from the kernel of the oil palm fruit. It is manufactured by the physical refining of crude palm kernel oil. Its properties as well as composition differ significantly from palm oil.

Palm Kernel Oil is generally semi-solid at room temperature unlike other oil-types which are obtained from the rest of the fruit. This oil resembles coco oil as when it is eaten, it produces a soft sensation in the mouth like cacao. Due to its neutral taste and long life, palm kernel oil can also be utilised as a substitute for cacao and fats found in milk.

Palm Kernel Oil Product Details

Report Features Details
Product Name Palm Kernel Oil
Industrial Uses Cosmetics, Food products, Solvents, Intermediates, Other
Supplier Database Cargill, Incorporated, Wilmar International Ltd, BASF SE, Bunge Loders Croklaan (Bunge Limited), Natures Natural India, IOI Corporation Berhad
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.

Palm Kernel Oil Production Process

  • Production of Palm Kernel Oil via Extraction

The conventional oil extraction process to manufacture Palm Kernel Oil involves frying of palm kernels in old oil or heating the dried nuts. The fried kernels are further ground to a paste in a motorised grinder. The paste is then mixed with a small quantity of water and finally heated to recover the Palm Kernel Oil.

Methodology

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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