RBD Palm Olein Price Trend and Forecast

Regional Price Overview

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

RBD Palm Olein Price Trend for First Half of 2023

Asia

The first quarter of 2023 witnessed a decline in the prices of RBD palm olein due to a lack of cost support from the bleak trading sentiments and a lack of demand from the domestic sector.

In the second half of this quarter, the trend gained momentum, and prices inclined as end-user industries showcased a positive growth rate. The prices continued to surge till the middle of the second quarter, after which they fell steeply as the demand for cooking oil and its derivatives declined in major RBD palm olein-producing nations.

Europe

The consumers in European countries had less faith in the RBD palm olein market, which was evident in their low appetite in the first quarter of 2023. The stock of RBD palm olein was already abundant in the European markets, and further influx from Asian countries only raised the level of inventories. However, the initial months of the second quarter showcased signs of improvement in the RBD palm olein price trend.

The surge in the prices was supported by increased demand for edible oils and overall consumption rates, but the availability of cheap imports and high domestic inventories proved to be a challenge for the RBD palm olein prices in this quarter.

North America

The RBD palm olein prices in North America suffered from weak procurement rates, excess stockpiles, and weak trading sentiments in the initial phase of the first quarter. However, unlike European and Asia-Pacific markets, the prices of RBD palm olein in North America inclined in the second quarter of 2023 mainly because of the ban imposed on imports from major RBD palm olein exporting nations. This ban helped in reducing the level of inventories and, thus, positively influenced the rise in prices of RBD palm olein.

Analyst Insight

According to Procurement Resource, the price trend of RBD Palm Olein is expected to fluctuate in the upcoming months as the demand from downstream industries seems to vary from place to place, and volatility in the consumption rates of consumers also presents a challenge for RBD palm olein market.

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.