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.

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.

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.

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.

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

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.

Explore the Palm Oil Global Market Report 2025 Market trends! Covers key players, growth rate 5% CAGR, market size $85.47 Billion, and forecasts to 2033. Get insights now!

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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

The global palm oil market surged to $94.3B in 2024, jumping by 16% against the previous year. Overall, consumption recorded a noticeable increase. Over the period under review, the global market hit record highs in 2024 and is likely to see gradual growth in the immediate term.

The Philippine palm oil market expanded sharply to $1B in 2024, surging by 10% against the previous year. In general, consumption enjoyed significant growth. Palm oil consumption peaked at $1.3B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

This dataset provides values for PALM OIL reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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.

The Indian refined palm oil market rose modestly to $5.8B in 2024, growing by 2.1% against the previous year. Overall, consumption, however, saw a prominent expansion. Refined palm oil consumption peaked at $6B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

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.

According to Cognitive Market Research, the global palm and palm kernel oil market size will be USD 15240.5 million in 2024. It will enlarge at a compound annual growth rate (CAGR) of 5% from 2024 to 2031.

North America held the majority market share for more than 40% of the global revenue with a market size of USD 6096.2 million in 2024 and will prosper at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4572.2 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3505.3 million in 2024 and will thrive at a compound annual growth rate (CAGR) of 7% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 762 million in 2024 and will flourish at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East & Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 304.8 million in 2024 and will heighten at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The refined type is the fastest-growing category of the palm and palm kernel oil industry.

Market Dynamics of Palm and Palm Kernel Oil Market

Key Drivers for Palm and Palm Kernel Oil Market

Rising Consumption of Palm Oil in Food Processing and Manufacturing to Promote Market Share

Palm oil is a highly versatile ingredient extensively used in food processing due to its stability, long shelf life, and cost-effectiveness. Its ability to remain stable at high temperatures makes it ideal for frying, and its semi-solid consistency at room temperature eliminates the need for hydrogenation, thus reducing trans fats. These qualities make palm oil a key ingredient in products such as margarine, baked goods, snacks, instant noodles, and ready-to-eat meals. In addition to its practical benefits, palm oil is also a more economical alternative to other vegetable oils, as it yields more oil per hectare compared to alternatives like soybean or sunflower. This makes it a preferred choice for large-scale food manufacturers aiming to keep costs low while maintaining the quality and consistency of their products. The neutral taste and versatile texture of palm oils enable it to be used in a wide range of products without altering the flavor profile, making it an essential ingredient in many processed foods.

Increased Use of Palm Oil for Biodiesel Production as a Renewable Energy Source to Drive Market Growth

Palm oil has emerged as a key feedstock for biodiesel production, which aligns with the global push for renewable energy solutions to combat climate change. Biodiesel derived from palm oil is renewable, biodegradable, and has a high energy output compared to other biofuels. Its production is particularly significant in countries like Indonesia and Malaysia, which account for the majority of global palm oil output. These countries have implemented government mandates and incentives to promote palm oil-based biodiesel, both for domestic use and export. The appeal of palm oil for biodiesel lies in its cost-effectiveness and high oil yield per hectare, which is considerably greater than that of alternative feedstocks like soy or rapeseed. As nations seek to reduce their reliance on fossil fuels and meet carbon reduction targets, biodiesel has become a critical component of energy strategies, especially in the transportation and industrial sectors.

Restraint Factor for the Palm and Palm Kernel Oil Market

Competition from Alternative Vegetable Oils like Soy and Sunflower Oil to Limit Market Size

The palm & palm kernel oil market faces significant competition from alternative vegetable oils, such as soy, sunflower, and canola oils. These oils are widely used in food processing, cosmetics, and industrial applications, and they offer alternatives to palm oil in many products. Some consumers view alternatives like sunflower or canola oil as healthier choices, as they tend to have lower saturated fat content compared to palm oil. This has led to a shift in consumer preferences, especially in markets where health-conscious buying trends are increasing. As the demand for plant-based products rises, manufacturers are increasingly exploring substitutes for palm oil in response to both health and environmental concerns. The increased availability an...

Retail Price: DCA: Daily: Palm Oil: Assam data was reported at 145.130 INR/kg in 22 Mar 2025. This records an increase from the previous number of 142.410 INR/kg for 21 Mar 2025. Retail Price: DCA: Daily: Palm Oil: Assam data is updated daily, averaging 120.405 INR/kg from Oct 2020 (Median) to 22 Mar 2025, with 1432 observations. The data reached an all-time high of 162.000 INR/kg in 11 Jul 2022 and a record low of 95.000 INR/kg in 04 Nov 2020. Retail Price: DCA: Daily: Palm Oil: Assam data remains active status in CEIC and is reported by Department of Consumer Affairs. The data is categorized under India Premium Database’s Price – Table IN.PC059: Retail Price: Department of Consumer Affairs: Agriculture Commodities: Daily: by States: Palm Oil.

NCDEX: Spot Price: Crude Palm Oil: Kandla: Second Session data was reported at 1,281.250 INR/10 kg in 25 Mar 2025. This records a decrease from the previous number of 1,288.600 INR/10 kg for 24 Mar 2025. NCDEX: Spot Price: Crude Palm Oil: Kandla: Second Session data is updated daily, averaging 873.100 INR/10 kg from Jan 2023 (Median) to 25 Mar 2025, with 541 observations. The data reached an all-time high of 1,347.650 INR/10 kg in 06 Dec 2024 and a record low of 756.050 INR/10 kg in 22 Sep 2023. NCDEX: Spot Price: Crude Palm Oil: Kandla: Second 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.

Palm Oil market will be growing at a CAGR of 4.88% during 2025 to 2033.

The Ghanian palm oil market dropped to $341M in 2024, waning by -12.4% against the previous year. In general, consumption, however, recorded a strong expansion. As a result, consumption attained the peak level of $551M. From 2022 to 2024, the growth of the market failed to regain momentum.

Global Soy Oil And Palm Oil market size 2025 was XX Million. Soy Oil And Palm Oil Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.