In 2023, approx. 21M tons of crude petroleum oil were imported into Malaysia; with an increase of 34% against 2022.

Palm Oil rose to 4,175 MYR/T on July 11, 2025, up 0.68% from the previous day. Over the past month, Palm Oil's price has risen 8.72%, and is up 6.67% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palm Oil - values, historical data, forecasts and news - updated on July of 2025.

The revenue of the palm fruit oil market in Malaysia amounted to $X in 2017, surging by X% against the previous year. Overall, palm fruit oil consumption continues to indicate a strong increase. The growth pace was the most rapid in 2017, when it surged by X% y-o-y. In that year, the palm fruit oil market reached their peak level, and is likely to continue its growth in the immediate term.In 2017, production of palm fruit oil in Malaysia totaled X tons, going up by X% against the previous year.

This study analyses the effects of oil price and macroeconomic shocks on the Malaysian housing market using a SVAR framework. The specification of the baseline model is based on standard economic theory. The Gregory-Hansen (GH) cointegration tests reveal that there is no cointegration among the variables of interest. Results from performing Toda-Yamamoto (TY) non-Granger causality tests show that oil price, labor force and inflation are the leading factors causing movements in the Malaysian housing prices in the long run. The findings from estimating generalized impulse response functions (IRFs) and variance decompositions (VDCs) indicate that oil price and labor force shocks explain a substantial portion of housing market price fluctuations in Malaysia.

The size of the Oil and Gas Market in Malaysia market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.00% during the forecast period. The oil and gas market is an important segment of Malaysia's economy, significantly contributing to the country's GDP and export revenues. With giant oil and gas reserves located onshore and offshore, Malaysia is one of the leading oil and gas producers in Southeast Asia. The dominant company in the state-owned company is Petronas, and the company manages the exploration, production, refining, and distribution segments. Since Petronas has invested a lot in technology and infrastructure, this company streamlined its operations as well as improved efficiency to be a competitive player in the global arena. Malaysia oil and gas sector has its broad portfolio from crude oil to liquefied natural gas, with an increasing effort in exploring this development in light of the growing demand worldwide. Besides, the government, too has played an active role in seeking foreign investments with a positive regulatory environment that encourages international partnership and innovation. None of the currently relevant challenges facing the industry involve volatility in oil prices, environmental factors, and calls for diversification amidst the global shift towards renewable energy. However, stability continues to characterize the oil and gas market in Malaysia, buoyed by continued activities of exploration, investments in technology, and the quest for more sustainable procedures, which will sustain it in an evolving energy universe. Recent developments include: In September 2022, Shell and its partner Petronas announced a decision of final investment decision to develop the Rosmari-Marjoram gas project, which will feed the Bintulu LNG export plant in Sarawak, Malaysia. The Rosmari-Marjoram development is one of the strategic projects that will guarantee a reliable gas supply to the Petronas-owned 30 million tons per annum Bintulu LNG complex., In April 2022, Petronas and Sabah Oil & Gas Development Corporation (SOGDC) signed a key memorandum of understanding (MoU) that will see the Malaysian national energy company build Sabah's first and largest near-shore floating liquefied natural gas (LNG) facility estimated to cost USD 2.02 billion (MYR 8.8 billion).. Key drivers for this market are: 4., Increasing Gas Production and Infrastructure4.; Increasing Exploration and Production Activities. Potential restraints include: 4., Increasing Adoption of Clean Power Sources. Notable trends are: LNG Terminals Segment is Expected to Dominate the Market.

The Malaysian crude palm oil market totaled $12.3B in 2024, approximately mirroring the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $14.5B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

As of December 2024, the average monthly price for crude palm oil in Malaysia was approximately 5,120 Malaysian ringgit per metric ton, an increase compared to the same period in the previous year. The average price of Malaysian crude palm oil has been increasing in that year.

The Oil and Gas Industry in Malaysia size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 1.40 % during the forecasts periods.Malaysia's oil and gas sector is a pivotal driver of the country's economy, marked by substantial production and export activities. Positioned as one of Southeast Asia's largest producers of oil and natural gas, Malaysia boasts extensive reserves situated both offshore in the South China Sea and onshore in Peninsular Malaysia and Sabah. The industry is primarily dominated by Petroliam Nasional Berhad (PETRONAS), Malaysia's national oil company, which holds a central role in exploration, production, refining, and distribution operations. Since the discovery of its initial oil fields in the early 20th century, Malaysia's oil and gas industry has undergone significant evolution. The development of major offshore fields such as Tapis and Dulang has elevated Malaysia's stature as a prominent global exporter of liquefied natural gas (LNG) and a critical supplier of petroleum products across regional markets. PETRONAS manages an advanced infrastructure network encompassing offshore platforms, pipelines, and liquefaction facilities, catering to both domestic energy demands and international export requirements. Industry challenges encompass fluctuating global oil prices, ongoing investments needed to maintain aging infrastructure, and environmental considerations associated with offshore drilling activities and emissions. Nevertheless, Malaysia continues to attract foreign investments through competitive fiscal policies, technological innovations, and strategic collaborations with multinational oil corporations. The sector significantly contributes to Malaysia's GDP, employment rates, and government revenues, underscoring its indispensable role in the country's economic development and energy security strategies. Recent developments include: January 2023: A consortium of JGC Corporation and Samsung Heavy Industries (SHI) secured an engineering, procurement, construction, and commissioning (EPCC) contract with Petronas for Malaysia's first nearshore floating LNG facility project. The planned facility is set to become the world's first nearshore floating LNG facility. It has a minimum production capacity of 2 million tonnes of LNG annually and is scheduled for completion in 2027., December 2022: Petronas announced the oil and gas discovery at the Nahara well in Block SK 306. Petronas Carigali, a wholly owned subsidiary of Petronas, is the operator of the block, with 100 percent participating interest in its Production Sharing Contract (PSC).. Key drivers for this market are: 4., Surging Demand For Refined Petroleum Products4.; Significant Untapped Petroleum Reserves in the Sedimentary Basins. Potential restraints include: 4., High Volatility of Crude Oil Prices. Notable trends are: Midstream Sector is Expected to Have Significant Market Share.

The 2025 annual OPEC oil price stood at ***** U.S. dollars per barrel, as of May. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

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Palm Oil Market Size 2025-2029

The palm oil market size is forecast to increase by USD 54.4 billion, at a CAGR of 9% between 2024 and 2029.

The Palm Oil Market is segmented by application (edible oil, surfactants, bio-diesel, others), type (conventional, organic), and geography (Europe: Germany, UK; Middle East and Africa: Qatar, UAE; APAC: China, India, Indonesia, Malaysia, Pakistan; Rest of World). This segmentation reflects the market's growth, driven by high demand for edible oil and bio-diesel applications, with conventional palm oil dominating and significant production and export contributions from Indonesia and Malaysia in the APAC region.
The market is driven by the increasing consumer awareness towards the health benefits associated with palm oil. This trend is fueled by the growing recognition of palm oil's role in various food products and its nutritional properties. Key end-use sectors include instant noodles, cereals, candles, shampoos, detergents, and biofuel production. A new growth avenue for palm oil is emerging in the biodiesel sector, as governments and industries seek sustainable alternatives to fossil fuels. However, this market faces significant challenges. Deforestation and plant diversity losses remain pressing concerns, with negative environmental impacts threatening the industry's reputation and long-term sustainability.
Companies must navigate these challenges by implementing responsible sourcing practices and investing in sustainable production methods to meet evolving consumer demands and regulatory requirements. By focusing on these strategic priorities, players in the market can capitalize on emerging opportunities while mitigating risks and ensuring long-term growth.

What will be the Size of the Palm Oil Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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Palm oil, derived from the fruit of the oil palm tree, continues to be a dynamic and evolving market due to its diverse applications across various sectors. Crude palm oil serves as a primary ingredient in food processing, cosmetics, and biodiesel production. The ongoing development of palm oil technology advances the industry's efficiency and sustainability, with innovations in refining processes, palm oil mill operations, and transportation methods. Sustainability remains a significant focus, as concerns over greenhouse gas emissions and land use change persist. Regulations and certifications, such as the Roundtable on Sustainable Palm Oil (RSPO), aim to promote sustainable practices in palm oil production.

These efforts extend to the supply chain, with increasing emphasis on transparency and responsible sourcing. Palm oil byproducts, including palm oil biogas and biofertilizer, offer additional value to the industry. The versatility of palm oil extends to the creation of palm oil biofuel, contributing to the energy sector. The continuous unfolding of market activities reveals the potential for further growth and innovation, as the industry adapts to evolving consumer demands and regulatory requirements. Forest conservation and the reduction of deforestation are essential considerations for the palm oil sector. The industry's impact on greenhouse gas emissions and land use change necessitates ongoing efforts to minimize environmental harm while maintaining economic viability.

The palm oil futures market reflects the industry's volatility and the importance of effective price risk management for investors. In the realm of palm oil plantations, advancements in technology and sustainable practices are essential to maintaining profitability and addressing environmental concerns. The palm oil mill sector continues to optimize processes, while transportation methods evolve to ensure efficient and cost-effective delivery of crude palm oil and its derivatives. Refined palm oil and its derivatives, such as palm kernel oil, are integral components of numerous industries, from food and beverage to cosmetics and biofuels. As the market continues to evolve, investment opportunities arise in various sectors, from technology and production to trading and logistics.

The dynamic nature of the market ensures a constant flow of innovation and growth.

How is this Palm Oil Industry segmented?

The palm oil industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Edible oil
  Surfactants
  Bio-diesel
  Others


Type

  Conventional
  Organic


Geography

  Europe

    Germany
    UK


  Middle East and Africa

    Qatar
    UAE


  APAC

    China
    India
    Indonesia
    Malaysia
    Pakistan


  Rest of World (ROW)

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The size of the Malaysia Refined Petroleum Products Market was valued at USD 14.96 Million in 2023 and is projected to reach USD 22.35 Million by 2032, with an expected CAGR of 5.90% during the forecast period. The refined petroleum products market in Malaysia represents a vital and dynamic component of the country's energy framework, essential for fulfilling domestic energy requirements and facilitating economic activities. As a prominent oil producer in Southeast Asia, Malaysia processes crude oil into a range of products such as gasoline, diesel, jet fuel, and lubricants, which are indispensable for transportation, industrial operations, and various other uses. The market is supported by sophisticated refining infrastructure, with key refineries strategically positioned to serve both local and regional demands. Recent developments indicate a trend towards increasing refinery capacities and implementing cleaner technologies to comply with international environmental standards. In its efforts to lower carbon emissions, Malaysia is placing greater emphasis on the production of low-sulfur fuels and investing in more energy-efficient refining methods. Furthermore, the market is subject to the volatility of global oil prices, shifts in domestic energy policies, and competition from regional players. The government's initiative to diversify energy sources and explore renewable energy options also plays a significant role in shaping market dynamics. Despite facing these challenges, the refined petroleum products market in Malaysia demonstrates resilience, supported by strategic investments and robust demand. The sector's future growth will depend on its capacity to adapt to changing energy trends and regulatory environments while continuing to satisfy both domestic and regional energy requirements. Recent developments include: June 2023: The automobile company Ford launched a new variant of the car known as Ranger Raptor, which consists of a 2.0 L bi-turbo diesel version. According to the company, the diesel variant has the highest efficiency levels and is relatively cheaper than the petrol variants., April 2022: Petroleum Sarawak Berhad launched a multi-fuel station in DarulHana that is likely to cater to vehicles that are powered by hydrogen, electricity, petrol, or diesel.. Key drivers for this market are: Surge in Demand of Refined Petroleum Products4., Need for Sustainable Refined Petroleum Products. Potential restraints include: Increase in Adoption of Alternative Fuel Vehicles. Notable trends are: Petrol is Expected to Dominate the Market.

In 2024, the Malaysian crude rapeseed oil market decreased by -0.2% to $78M, falling for the second year in a row after three years of growth. In general, consumption saw strong growth. Over the period under review, the market reached the peak level at $105M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

In 2023, imports of crude rape, colza or mustard oil into Malaysia reduced to 44K tons, dropping by -8.1% on 2022 figures.

Malaysia GDP: MQ: Crude Oil and Condensate data was reported at 16,869.000 MYR mn in Mar 2019. This records an increase from the previous number of 15,975.000 MYR mn for Dec 2018. Malaysia GDP: MQ: Crude Oil and Condensate data is updated quarterly, averaging 13,338.000 MYR mn from Mar 2015 (Median) to Mar 2019, with 17 observations. The data reached an all-time high of 18,465.000 MYR mn in Jun 2018 and a record low of 10,565.000 MYR mn in Dec 2015. Malaysia GDP: MQ: Crude Oil and Condensate data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Malaysia – Table MY.A0006: 2015 Base: GDP by Industry: Current Price.

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).

This statistic depicts the average monthly prices for palm oil worldwide from January 2014 through January 2025. In January 2025, the average monthly price for palm oil worldwide stood at ******** nominal U.S. dollars per metric ton.

Sunflower Oil fell to 1,238 INR/10 kg on July 11, 2025, down 0.20% from the previous day. Over the past month, Sunflower Oil's price has fallen 0.13%, but it is still 35.94% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Sunflower Oil.

The Malaysian oil and gas industry, while facing headwinds, presents a moderately growing market opportunity. With a 1.40% CAGR (2019-2033), the sector's value is projected to steadily increase, driven primarily by sustained domestic demand and strategic investments in downstream processing and petrochemical production. Upstream activities, including exploration and production, are influenced by global crude oil price fluctuations and governmental policies aimed at balancing energy security with environmental sustainability. Midstream operations, encompassing transportation and storage, benefit from infrastructure development and regional trade dynamics. The downstream sector, encompassing refining and petrochemicals, is expected to experience stronger growth due to increasing demand for refined products and the expansion of petrochemical complexes. Key players like Petronas, Shell, and ExxonMobil play crucial roles, shaping the competitive landscape. While challenges exist, such as aging infrastructure and the global push towards renewable energy sources, the Malaysian government's commitment to infrastructure upgrades and diversification efforts within the energy sector are expected to mitigate some of these risks. The country's strategic location and established infrastructure contribute to its continued significance in the regional energy market. The growth trajectory of the Malaysian oil and gas industry is projected to remain stable, albeit at a moderate pace, throughout the forecast period (2025-2033). The sector's success will hinge on effectively balancing the need for energy security with environmental concerns, fostering collaboration between public and private stakeholders, and leveraging technological advancements to improve efficiency and reduce environmental impact. This includes a focus on investments in cleaner energy sources while simultaneously supporting the existing oil and gas infrastructure and workforce. Further growth opportunities lie in expanding downstream operations to capitalize on increasing regional demand for refined products and petrochemicals. Continuous assessment of global market trends and proactive adaptation to evolving regulatory landscapes will be crucial for sustained success in this dynamic sector. Recent developments include: January 2023: A consortium of JGC Corporation and Samsung Heavy Industries (SHI) secured an engineering, procurement, construction, and commissioning (EPCC) contract with Petronas for Malaysia's first nearshore floating LNG facility project. The planned facility is set to become the world's first nearshore floating LNG facility. It has a minimum production capacity of 2 million tonnes of LNG annually and is scheduled for completion in 2027., December 2022: Petronas announced the oil and gas discovery at the Nahara well in Block SK 306. Petronas Carigali, a wholly owned subsidiary of Petronas, is the operator of the block, with 100 percent participating interest in its Production Sharing Contract (PSC).. Key drivers for this market are: 4., Surging Demand For Refined Petroleum Products4.; Significant Untapped Petroleum Reserves in the Sedimentary Basins. Potential restraints include: 4., Surging Demand For Refined Petroleum Products4.; Significant Untapped Petroleum Reserves in the Sedimentary Basins. Notable trends are: Midstream Sector is Expected to Have Significant Market Share.

In Q1 2025, the Palm Kernel Oil (PKO) market in North America experienced a gradual transition from initial supply constraints to a more balanced environment. At the beginning of the quarter, low inventory levels and limited shipments from major producing nations created upward pressure on prices. However, as the quarter progressed, revised production forecasts from key exporters like Malaysia and Indonesia eased earlier concerns. The improved supply outlook helped stabilize the market, while demand-side factors remained sluggish, leading to a generally soft pricing environment.

The Malaysian coconut oil market rose rapidly to $314M in 2024, growing by 14% against the previous year. Overall, consumption posted strong growth. As a result, consumption reached the peak level of $648M. From 2023 to 2024, the growth of the market remained at a lower figure.