Palm oil prices rose again on March 9, with the mainstream quote returning to 14,000 RMB/MT and the spot price of palm oil rising 1.76 percent from the previous working day to 13,860 RMB/MT. Floods hit Malaysia in January 2022 as a result of heavy rains, decreasing the supply of palm oil. Soybean oil and palm oil prices continued to rise rapidly, aided by a host of favourable variables, with palm oil breaking beyond 10,000 for the first time. Because the soybean and palm oil futures markets climbed too quickly, market turnover was normal. Adjustments were made one by one after the rapid spike, and the soybean and palm oil markets oscillated higher for a half-month. The high price of soybean oil and palm oil impeded the transaction, notably the price of palm oil, which stayed in the first line of 10,000 RMB. RBD palm oil prices are influenced by the prices of palm oil.
Procurement Resource provides latest prices of RBD 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 RBD Palm Oil prices for several regions around the globe, which are as follows:
About RBD Palm Oil:
RBD Palm Oil stands for refined bleached deodourised palm oil. Palm oil refinery plants, in general, carry out physical refining, which involves three steps refining, bleaching (decolourisation) and deodourisation. These RBD Palm Oil have huge demand in the market due to its high quality as well as high durability. It is further used to produce RBD palm olein by carrying out fractionation.
The RBD palm oil extraction process initially requires palm oil from the flesh of the fruit. After the extraction of crude palm oil from the palm fruit, it is processed at mills, which is further refined and deodourised to finally obtain RBD Palm Oil.
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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).
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