Palm oil prices weakened in August on lower prices for rival oils and a poor macroeconomic outlook. Prices averaged USD 949 per metric ton in August, down 2.3% from July’s price and 12.0% lower year on year. Meanwhile, palm oil traded at USD 963 per metric ton on 31 August, 1.3% higher month on month.
This chart displays Palm Oil (US$/mt) from 2021 to 2023.
Palm Oil (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Palm Oil | - | - | 1,218 | 1,349 | 1,569 | 1,659 | 1,118 | 1,045 |