Palm Oil rose to 3,993 MYR/T on July 1, 2025, up 0.15% from the previous day. Over the past month, Palm Oil's price has risen 2.97%, but it is still 2.37% lower than a year ago, 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.

Graph and download economic data for Global price of Palm Oil (PPOILUSDM) from Jan 1990 to May 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.

Graph and download economic data for Global price of Palm Oil (PPOILUSDQ) from Q1 1990 to Q1 2025 about oil, World, food, and price.

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. 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. 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.

The global production of palm oil was around ***** million metric tons in the marketing year 2023/24, decreasing from approximately ***** 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 *** million hectares, up from **** 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 ***** nominal U.S. dollars per metric ton. It is expected to drop to about ***** nominal U.S. dollars per metric ton by 2024.

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.

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).

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.

Fresh Fruit Bunches Price: 1% Extraction Rate: North Region data was reported at 26.220 MYR/Ton in Mar 2018. This records a decrease from the previous number of 27.300 MYR/Ton for Feb 2018. Fresh Fruit Bunches Price: 1% Extraction Rate: North Region data is updated monthly, averaging 19.700 MYR/Ton from Jan 1994 (Median) to Mar 2018, with 291 observations. The data reached an all-time high of 43.640 MYR/Ton in Feb 2011 and a record low of 5.870 MYR/Ton in Feb 2001. Fresh Fruit Bunches Price: 1% Extraction Rate: North Region 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.

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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)

By

In 2023, the farm gate price of oil palm in Thailand was around 5.29 Thai baht per kilogram, decreasing from the previous year. In that same year, the production value of oil palm in the country was approximately 96.26 billion Thai baht.

Palm Oil Price in the United States - 2023. Find the latest marketing data on the IndexBox platform.

NCDEX: Spot Price: Crude Palm Oil: Kakinada: First Session data was reported at 1,132.500 INR/10 kg in 16 May 2025. This records a decrease from the previous number of 1,150.000 INR/10 kg for 15 May 2025. NCDEX: Spot Price: Crude Palm Oil: Kakinada: First Session data is updated daily, averaging 917.500 INR/10 kg from Jan 2024 (Median) to 16 May 2025, with 331 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.

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

Palm Oil Market Outlook

According to our latest research, the global palm oil market size in 2024 stands at USD 66.8 billion, registering a robust annual growth trajectory. The market is exhibiting a strong compound annual growth rate (CAGR) of 5.2% from 2025 to 2033, driven primarily by surging demand from the food and beverage sector, increasing biofuel production, and expanding applications in the personal care industry. By 2033, the palm oil market is forecasted to reach a valuation of USD 105.4 billion, highlighting its position as one of the most dynamic and influential segments within the global edible oils industry. As per our latest research, the market is being propelled by both supply-side expansions in Southeast Asia and demand-side innovations in value-added palm oil derivatives across multiple end-use industries.

One of the most significant growth factors for the palm oil market is its unparalleled versatility and cost-effectiveness compared to other vegetable oils. Palm oil’s unique composition, high yield per hectare, and relatively low production costs have made it the preferred choice for food manufacturers, especially in developing economies where affordability is paramount. The global population’s increasing reliance on processed and packaged foods, where palm oil is a key ingredient due to its stability and texture-enhancing properties, continues to drive robust demand. Additionally, the shift towards plant-based diets and the growing consumer preference for trans-fat-free products have further cemented palm oil’s status as a staple in the global food industry. These factors collectively ensure a steady and resilient demand base, even as the market navigates sustainability and regulatory challenges.

Another pivotal growth driver is the expanding use of palm oil in non-food applications, particularly in the biofuel and personal care sectors. Governments worldwide are implementing policies to promote renewable energy sources, and palm oil-based biodiesel is gaining traction as a viable alternative to fossil fuels. The European Union and several Asian countries have introduced blending mandates that require a certain percentage of biofuel in transportation fuels, which has significantly boosted palm oil consumption for energy purposes. In parallel, the cosmetics and personal care industry is increasingly utilizing palm oil and its derivatives for their emollient and moisturizing properties, spurred by rising disposable incomes and heightened awareness of personal grooming. These trends are expected to accelerate, supported by ongoing research into sustainable palm oil production and certification schemes that enhance traceability and consumer confidence.

Sustainability and traceability initiatives are also reshaping the palm oil market landscape, fostering growth by addressing consumer and regulatory concerns around deforestation, biodiversity loss, and labor practices. The adoption of certification programs such as the Roundtable on Sustainable Palm Oil (RSPO) and the Indonesian Sustainable Palm Oil (ISPO) standard is gaining momentum, with major producers and buyers committing to sourcing only certified sustainable palm oil. This transition is being driven by both legislative measures in key import markets and heightened corporate social responsibility commitments among global retailers and manufacturers. As these initiatives become more entrenched, they are expected to unlock new market opportunities, particularly in premium product segments and environmentally conscious consumer demographics, further bolstering the long-term growth prospects of the palm oil market.

Regionally, Asia Pacific continues to dominate the palm oil market, accounting for over 59% of the global consumption in 2024. Indonesia and Malaysia remain the world’s largest producers, collectively supplying more than 85% of global output. The region’s burgeoning food processing industry, rapid urbanization, and expanding middle-class population are key demand drivers. Meanwhile, North America and Europe are witnessing steady growth, underpinned by rising demand for sustainable and certified palm oil in food, cosmetics, and biofuel applications. Latin America and Africa are emerging as important production hubs, with increasing investments in sustainable cultivation practices and processing infrastructure. These regional trends underscore the global interconnectedness of the palm oil market and the pivotal role of cross-border trade and re

In December 2021, the average retail price of palm oil per kilogram in the capital of India, Delhi, was above 113.7 Indian rupees. The national average of palm oil retail price per kilogram was more than 120.3 Indian rupees.

In 2023/24, palm oil consumption amounted to around 75 million metric tons worldwide. That figure is projected to increase to approximately 78 million metric tons during 2024/25. Consumption of palm oil worldwide Palm oil is an edible vegetable oil commonly used for food products, detergents, and cosmetics. In the United States, palm oil consumption amounts to approximately 1.7 million metric tons annually. In comparison, palm oil consumption in the European Union is about three times as high. Nonetheless, palm oil consumption in the European Union has dropped significantly during the last two years. After constantly being close to 6.6 million metric tons between 2015 and 2020, consumption levels dropped to five million in 2021 and has not increased much since. Palm oil consumption in Indonesia is almost 20 million metric tons, which is significantly more than in any other country in the world. Indonesia’s palm oil consumption has nearly tripled during the last decade. Palm oil in China China's total imports of palm oil amount to approximately 7.2 million tons per year. More than half of those are imported from Indonesia, the leading palm oil producer worldwide. Furthermore, China's imports of palm oil from Malaysia amount to about 1.7 million metric tons, which is slightly less than a quarter of the total palm oil imports. In 2022, China’s total consumption of palm oil amounted to about 6.7 million metric tons. China’s palm oil consumption saw a noticeable increase in 2018. That year, consumption levels increased by almost two million metric tons, from 5.1 to seven million metric tons. Chinese palm oil consumption has remained at a similar level ever since, except during the pandemic year of 2021.

In Q1 2025, the palm oil market in North America experienced steady demand amidst constrained supply from local producers, which created upward price pressures. Market sentiment reflected cautious optimism due to potential export restrictions and regulatory shifts in key producing countries, which could lead to tighter availability. Furthermore, shifts in the production of competing vegetable oils and fluctuations in currency exchange rates influenced import costs, adding complexity to market dynamics.

In July 2022, the crude palm oil price per ton stood at $1.5K (CIF, India), reducing by -14% against the previous month.