Palm Oil decreased 155 MYR/MT or 3.49% since the beginning of 2025, 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 March of 2025.

Graph and download economic data for Global price of Palm Oil (PPOILUSDM) from Jan 1990 to Feb 2025 about oil, World, food, and price.

This statistic depicts the average annual prices for palm oil from 2014 through 2026*. In 2023, the average price for palm oil stood at 886 nominal U.S. dollars per metric ton.

Nigeria Commodity Price: Palm Oil data was reported at 873.670 USD/Metric Ton in Jun 2024. This records an increase from the previous number of 859.150 USD/Metric Ton for May 2024. Nigeria Commodity Price: Palm Oil data is updated monthly, averaging 762.830 USD/Metric Ton from Jan 2009 (Median) to Jun 2024, with 186 observations. The data reached an all-time high of 1,776.960 USD/Metric Ton in Mar 2022 and a record low of 483.490 USD/Metric Ton in Sep 2015. Nigeria Commodity Price: Palm Oil data remains active status in CEIC and is reported by Central Bank of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.P001: Commodity Prices.

Indonesia International Indicators: International Commodity Price: Crude Palm Oil (CPO) data was reported at 1,039.440 USD/Metric Ton in Jan 2025. This records a decrease from the previous number of 1,139.262 USD/Metric Ton for Dec 2024. Indonesia International Indicators: International Commodity Price: Crude Palm Oil (CPO) data is updated monthly, averaging 677.384 USD/Metric Ton from Jan 2014 (Median) to Jan 2025, with 133 observations. The data reached an all-time high of 1,652.529 USD/Metric Ton in Mar 2022 and a record low of 435.238 USD/Metric Ton in Nov 2018. Indonesia International Indicators: International Commodity Price: Crude Palm Oil (CPO) data remains active status in CEIC and is reported by Bank Indonesia. The data is categorized under Indonesia Premium Database’s Monetary – Table ID.KAI002: Financial System Statistics: Macroeconomic Indicator.

The palm oil prices in the Malaysia for Q4 2023 reached 810 USD/MT in December. Initially, prices declined due to surplus stock and expectations of higher production. By November, prices picked up because of factors like the thriving food and beverage (F&B) industry, along with geopolitical impacts on crude oil. As December approached, a dip in exports led to declining prices, pushing producers to reduce excess inventory.

NCDEX: Spot Price: Crude Palm Oil: Kakinada: First Session data was reported at 1,270.000 INR/10 kg in 26 Mar 2025. This records an increase from the previous number of 1,267.500 INR/10 kg for 25 Mar 2025. NCDEX: Spot Price: Crude Palm Oil: Kakinada: First Session data is updated daily, averaging 907.500 INR/10 kg from Jan 2024 (Median) to 26 Mar 2025, with 299 observations. The data reached an all-time high of 1,320.000 INR/10 kg in 11 Nov 2024 and a record low of 767.500 INR/10 kg in 04 Jan 2024. NCDEX: Spot Price: Crude Palm Oil: Kakinada: First Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

This statistic shows the average price per tonne of palm oil in the United Kingdom (UK) from 2000 to 2015, according to agricultural commodity price figures. In 2012, the average price per tonne of palm oil was 631.15 British pounds.

The Price of RBD Palm Oil in China for Q4 2023 reached 992 USD/MT in December. In Malaysia, RBD palm oil prices reached 812 USD/MT in December 2023.

In 2024, after two years of decline, there was significant growth in the Indonesian crude palm oil market, when its value increased by 6.3% to $39.3B. Overall, consumption showed a buoyant increase. As a result, consumption reached the peak level of $43.5B. From 2022 to 2024, the growth of the market remained at a lower figure.

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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 market presents a dynamic and complex landscape for global investors and businesses. Key drivers include the increasing consumer awareness and preference for palm oil due to its health benefits, particularly in food and cosmetic industries. This trend is expected to continue, providing significant growth opportunities for market participants. However, challenges persist, with concerns over deforestation and the resulting losses in plant diversity threatening the industry's sustainability and reputation. To navigate these challenges, companies must adopt responsible sourcing practices and invest in sustainable production methods. The emergence of a new growth avenue for palm oil in the biodiesel sector further underscores the market's potential. As the demand for renewable energy sources continues to rise, the integration of palm oil into the biodiesel value chain offers a strategic opportunity for market players. Companies seeking to capitalize on these trends and mitigate risks should focus on innovation, transparency, and collaboration with stakeholders to ensure long-term success.

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

Request Free SampleThe market encompasses the production and trade of palm fruits and their derived oils, including crude palm oil, RBD palm oil, palm kernel oil, and unrefined palm oil. Palm oil is a widely used edible vegetable oil, prominent in various industries such as food, cosmetics, and biodiesel. Its versatility is evident in its application in diverse products, from instant noodles and confectionery to soaps and cosmetics. The market size is substantial, with continued growth driven by increasing demand for edible oils, particularly in developing countries. Palm oil's affordability and high energy value make it a preferred choice for industries and households alike. However, concerns over sustainability and environmental impacts, such as deforestation and the conversion of tropical forests, have led to a growing focus on sustainable and organic production. Palm oil competes with other edible oils like rapeseed oil, mineral oil, and unrefined palm oil. Health-conscious consumers are increasingly seeking alternatives to palm oil due to its association with heart disease. Despite these challenges, the market remains dynamic, with ongoing research and development efforts aimed at improving production methods and addressing sustainability concerns.

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. ApplicationEdible oilSurfactantsBio-dieselOthersTypeConventionalOrganicGeographyAPACChinaIndiaIndonesiaMalaysiaPakistanMiddle East and AfricaQatarUAEEuropeGermanyUKNorth AmericaSouth America

By Application Insights

The edible oil segment is estimated to witness significant growth during the forecast period.Palm oil is a widely used edible oil, predominantly sourced from the palm fruit and palm kernel. Palm fruit oil is primarily utilized for cooking and is a common ingredient in various food products, particularly in Asian markets. Compared to other hydrogenated oils, palm oil is considered healthier due to its lower trans fat content. The affordability of palm oil, as a vegetable oil, has also contributed to its expanding market share. With significant production volumes, palm oil plays a substantial role in the food processing sector. Its versatility extends beyond cooking, as it is also used in the production of instant noodles, oleochemicals, biodiesel fuel, and various consumer goods. The market encompasses both conventional and organic segments, with a growing emphasis on sustainable and eco-friendly production methods. The health benefits of palm oil, including its nutritional value and uses in personal care products, further underscore its importance in various industries.

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The Edible oil segment was valued at USD 54.00 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 73% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Palm oil is a versatile vegetable oil derived from the fruits of the oil palm tree. The primary contributors to the expansion of the market in the APAC region are China, Australia, Thail

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.

China Settlement Price: Dalian Commodity Exchange: RBD Palm Oil: 3rd Month data was reported at 9,226.000 RMB/Ton in Feb 2025. This records an increase from the previous number of 8,770.000 RMB/Ton for Jan 2025. China Settlement Price: Dalian Commodity Exchange: RBD Palm Oil: 3rd Month data is updated monthly, averaging 6,440.000 RMB/Ton from Oct 2007 (Median) to Feb 2025, with 209 observations. The data reached an all-time high of 13,852.000 RMB/Ton in Apr 2022 and a record low of 4,174.000 RMB/Ton in Jun 2019. China Settlement Price: Dalian Commodity Exchange: RBD Palm Oil: 3rd Month data remains active status in CEIC and is reported by Dalian Commodity Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Dalian Commodity Exchange: Commodity Futures: Settlement Price.

In 2023, the amount of crude palm oil imported into India rose sharply to 7.1M tons, with an increase of 6.8% against 2022.

The global crude palm oil market expanded to $71.7B in 2024, growing by 3.8% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2024: its value increased at an average annual rate of +3.2% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -9.9% against 2022 indices.

Sunflower Oil increased 56 USD/T or 4.42% since the beginning of 2025, 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.

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 1,070.31 nominal U.S. dollars per metric ton.

The global palm oil market was valued at USD 63.65 billion in 2021 and is expected to grow at a CAGR of 5.0% during the forecast period.

Malaysia Core Inflation Nowcast: Contribution: Commodity Prices: Crude Palm Oil: KLCE: Settlement Price: Current Month Future data was reported at 20.210 % in 10 Mar 2025. This stayed constant from the previous number of 20.210 % for 03 Mar 2025. Malaysia Core Inflation Nowcast: Contribution: Commodity Prices: Crude Palm Oil: KLCE: Settlement Price: Current Month Future data is updated weekly, averaging 0.786 % from Oct 2020 (Median) to 10 Mar 2025, with 230 observations. The data reached an all-time high of 30.672 % in 11 Dec 2023 and a record low of 0.000 % in 13 Jan 2025. Malaysia Core Inflation Nowcast: Contribution: Commodity Prices: Crude Palm Oil: KLCE: Settlement Price: Current Month Future data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Malaysia – Table MY.CEIC.NC: CEIC Nowcast: Inflation: Core.

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Sustainable Palm Oil Market Size 2024-2028

The sustainable palm oil market size is forecast to increase by USD 2.75 billion at a CAGR of 5.24% between 2023 and 2028.

The market is experiencing significant growth due to increasing consumer awareness and regulatory pressures regarding the detrimental effects of production of palm oil on habitats and greenhouse gas emissions. Common goods such as food, beverages, biofuels, and personal care products in the US continue to rely heavily on palm oil. 
However, the market is witnessing trends towards the adoption of sustainable cultivation methods and the availability of substitutes, including sunflower oils. The beverage industry and energy sector are major consumers of palm oil, and their shift towards sustainability is driving market growth. Companies are investing in research and development to produce palm oil with minimal environmental impact while exploring alternatives like sunflower oils to reduce dependence on palm oil.

What will be the Size of the Market During the Forecast Period?

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Sustainable palm oil is a type of vegetable oil derived from the fruits of the palm tree, grown in tropical regions. The market for sustainable palm oil has gained significant attention due to increasing concerns over deforestation, wildlife habitat destruction, and extinction. Product labeling and procurement practices play a crucial role in ensuring ethical production and minimizing the detrimental effects on the environment and social perspective. The production of palm oil, red palm oil, white palm oil, fractional palm oil, and palm kernel oil can lead to habitat damage and greenhouse gas emissions. The beverage industry, biofuel industry, and producers, exporters, and cultivators are major contributors to the palm oil market.

The demand for sustainable palm oil as a sustainable alternative to crude oil in biodiesel production is on the rise. Sustainable production practices, such as organic farming, are gaining popularity to reduce the environmental impact. Small farmers are also being encouraged to adopt sustainable farming practices to ensure long-term sustainability. The use of sustainable palm oil in common goods is becoming increasingly important to meet ethical and environmental standards. The market for sustainable palm oil is expected to grow significantly in the coming years, providing opportunities for stakeholders to contribute to the cause of sustainable production and minimize the negative impacts on wildlife and the environment.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Edible oil
  Surfactants
  Biofuels
  Others


Distribution Channel

  Offline
  Online


Geography

  APAC

    China
    India


  Europe

    UK
    France


  Middle East and Africa



  North America



  South America

By Type Insights

The edible oil segment is estimated to witness significant growth during the forecast period. Palm oil, a widely used vegetable oil, is exported extensively from countries like Indonesia and Malaysia. However, the production of palm oil has been linked to habitat destruction, particularly in the case of peatlands. Small farmers, a significant portion of the palm oil industry, often face pressure to maximize yields, leading to unsustainable practices. In recent years, the biofuels sector's demand for palm oil has poured, contributing to the expansion of palm oil plantations. This, in turn, has led to the conversion of forests and peatlands, resulting in negative environmental impacts. Fractionated palm oil, a derivative of palm oil, is used in various industries, including food and beverage, biofuel, and energy.

The market is gaining traction as consumers and businesses seek to reduce the environmental and social impacts of palm oil production. The demand for sustainable palm oil is driven by increasing consumer awareness and the need for ethical and environmentally responsible business practices.

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The edible oil segment accounted for USD 5.98 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 63% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The demand for sustainable palm oil in the Asia Pacific (APAC) region has been on the rise over the past five years. This trend is driven by increasing consumer awareness of the health benefits of s