Palm oil prices declined steadily in May on higher production, sluggish demand and weaker prices for rival oils. Prices averaged USD 942 per metric ton in May, which was down 7.9% from April’s price and was 44.6% lower than in the same month last year. Moreover, palm oil traded at USD 850 per metric ton on 31 May, which was 13.3% lower than on the same day of the previous 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 | - | 1,167 | 1,218 | 1,349 | 1,569 | 1,659 | 1,118 | 1,045 |