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.

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 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.

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.

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.

Malaysia RBD Palm Olein Export Price, fob data was reported at 2,421.000 MYR/Ton in Jun 2018. This records a decrease from the previous number of 2,507.000 MYR/Ton for May 2018. Malaysia RBD Palm Olein Export Price, fob data is updated monthly, averaging 1,573.750 MYR/Ton from Jan 1983 (Median) to Jun 2018, with 426 observations. The data reached an all-time high of 4,226.000 MYR/Ton in Mar 2008 and a record low of 591.500 MYR/Ton in Aug 1986. Malaysia RBD Palm Olein Export Price, fob data remains active status in CEIC and is reported by Malaysian Palm Oil Board. The data is categorized under Global Database’s Malaysia – Table MY.P002: Palm Oil Price.

Malaysia Crude Palm Oil Price: Local Delivery: Month End: 2M Forward data was reported at 2,321.000 MYR/Ton in Jun 2018. This records a decrease from the previous number of 2,480.000 MYR/Ton for May 2018. Malaysia Crude Palm Oil Price: Local Delivery: Month End: 2M Forward data is updated monthly, averaging 2,168.500 MYR/Ton from May 1996 (Median) to Jun 2018, with 266 observations. The data reached an all-time high of 3,986.500 MYR/Ton in Feb 2008 and a record low of 746.500 MYR/Ton in Feb 2001. Malaysia Crude Palm Oil Price: Local Delivery: Month End: 2M Forward data remains active status in CEIC and is reported by Malaysian Palm Oil Board. The data is categorized under Global Database’s Malaysia – Table MY.P002: Palm Oil Price.

The Malaysian crude palm oil market totaled $12.2B in 2024, approximately reflecting the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $14.7B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Malaysia Palm Kernel Price: Local Ex Mill: Mo Wt Avg: Spot: North data was reported at 1,660.500 MYR/Ton in Jun 2018. This records a decrease from the previous number of 1,780.500 MYR/Ton for May 2018. Malaysia Palm Kernel Price: Local Ex Mill: Mo Wt Avg: Spot: North data is updated monthly, averaging 1,134.500 MYR/Ton from Jul 1996 (Median) to Jun 2018, with 264 observations. The data reached an all-time high of 3,631.000 MYR/Ton in Jan 2017 and a record low of 348.500 MYR/Ton in Feb 2001. Malaysia Palm Kernel Price: Local Ex Mill: Mo Wt Avg: Spot: North data remains active status in CEIC and is reported by Malaysian Palm Oil Board. The data is categorized under Global Database’s Malaysia – Table MY.P002: Palm Oil Price.

While Indonesia plans to expand the production and struggles with the EU ban on using palm oil as a biofuel, Malaysia faces an acute shortage of workers due to the guest workers outflow after the pandemic. Despite the problems in these two countries producing 85% of the total palm oil, the global demand remains due to the main importers, China and India.

In 2022, the average annual producer price for palm oil fresh fruit bunches (FFB) in Malaysia reached approximately 247 U.S. dollars per metric ton, an increase compared to the previous year. Labor shortage in the country caused by restrictions during the COVID-19 pandemic had impacted the

In 2021, Indonesia (X tons) was the largest exporter of palm oil, generating 55% of total exports. It was distantly followed by Malaysia (X tons), comprising a 29% share of total exports. The following exporters - the Netherlands (X tons), Guatemala (X tons) and Papua New Guinea (X tons) - each resulted at a 5.7% share of total exports.

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.

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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

Malaysia Crude Palm Kernel Oil Price: LD: Mo Wt Avg: Spot: Central data was reported at 2,813.000 MYR/Ton in Nov 2018. This records a decrease from the previous number of 3,241.500 MYR/Ton for Oct 2018. Malaysia Crude Palm Kernel Oil Price: LD: Mo Wt Avg: Spot: Central data is updated monthly, averaging 2,458.500 MYR/Ton from Jul 1996 (Median) to Nov 2018, with 269 observations. The data reached an all-time high of 7,855.000 MYR/Ton in Jan 2017 and a record low of 786.500 MYR/Ton in Feb 2001. Malaysia Crude Palm Kernel Oil Price: LD: Mo Wt Avg: Spot: Central data remains active status in CEIC and is reported by Malaysian Palm Oil Board. The data is categorized under Global Database’s Malaysia – Table MY.P002: Palm Oil Price.

In 2024, the Malaysian palm oil market decreased by -9.8% to $5.2B, falling for the second year in a row after three years of growth. Over the period under review, the total consumption indicated a mild increase from 2012 to 2024: its value increased at an average annual rate of +1.3% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -20.6% against 2022 indices.

Global palm oil market: In 2015, the countries with the highest levels of production in 2015 were Indonesia, Malaysia, Thailand, together accounting for 89% of total output.

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

The Malaysian refined palm oil market surged to $500M in 2024, jumping by 30% against the previous year. Overall, consumption saw a buoyant expansion. Refined palm oil consumption peaked in 2024 and is likely to see gradual growth in the immediate term.

The global production of palm oil was around 76.26 million metric tons in the marketing year 2023/24, decreasing from approximately 76.63 million metric tons in 2022/23. In that period, Indonesia and Malaysia were the leading exporters of palm oil worldwide. Leading palm oil producers Palm oil grows mainly in Asia, Africa and Latin America. Indonesia and Malaysia are the main palm oil producers, followed by Thailand, Colombia, and Nigeria. Unsurprisingly, Indonesia and Malaysia have the largest certified area planted with palm trees. In 2017, the Roundtable on Sustainable Palm Oil (RSPO) certified area planted with palm trees in Indonesia reached 1.7 million hectares, up from 1.54 million hectares in 2016. Global market Import volume of palm oil has increased worldwide over the past few years. According to the World Bank, in 2021, the average price for palm oil stood at 1,131 nominal U.S. dollars per metric ton. It is expected to drop to about 1,054 nominal U.S. dollars per metric ton by 2024.