Prices of palm oil, a common fat in the food processing and bread industries, have nearly equaled those of soyabean oil. Export restrictions enforced by Indonesia, the world's largest oil producer, and general commodity market volatility were blamed for the price surge, which is anticipated to last for some time.
RBD Palmolein, which is the form in which solvents and extractors import it from manufacturing countries, was priced at 1,42,00 INR/MT on March 1st, 2022.
RBD Palmolein is made by refining crude oil, of which Indonesia is the world's largest producer and India the world's major importer.
The Indonesian government stipulated that all exporters must sell 20% of their goods at heavily subsidised prices within the country before exporting the remaining 80%. This had caused a supply delay, and the additional expense was primarily due to this.
Procurement Resource provides latest prices of RBD Palm Olein. 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 Olein prices for regions around the globe, as follows:
About RBD Palm Stearin:
RBD Palm Olein (RBD- refined, bleached and deodourised) is the liquid fraction derived by the fractionation of palm oil after crystallisation at controlled temperatures. It is particularly suitable for frying and cooking. RBD Palm Olein is cholesterol-free that contains vitamin D and E.
It is obtained from palm oil (Elaeis guineensis), after a process of refining, bleaching as well as deodourising, resulting in the formation of palm oil categorised as RBD.
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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).