What is the price of palm oil per kilogram/pound in Malaysia today?
The retail price range for Malaysia palm oil is between US$ 3.69 and US$ 3.69 per kilogram or between US$ 1.67 and US$ 1.67 per pound(lb). Click here to see today's exact prices of palm oil in Malaysia
The retail price range in Malaysian Ringgit for palm oil is between MYR 16.75 and MYR 16.75 per kilogram or between MYR 7.59 and MYR 7.59 per pound(lb) in Kuala Lumpur and George Town.
Wholesale prices
In 2024, the approximate wholesale price range for Malaysia palm oil is between US$ 2.58 and US$ 2.58 per kilogram or between US$ 1.17 and US$ 1.17 per pound(lb).
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Malaysia Palm Oil Export Prices - Historical, Trends and Prediction
In 2016, the export price of Palm Oil from Malaysia was US$ 121.80 per Kg. In 2017, the export price was US$ 91.49 per Kg. In 2018, the export price was US$ 74.31 per Kg. In 2019, the export price was US$ 111.62 per Kg. In 2020, the export price was US$ 199.40 per Kg. For 2021, the export price is predicted to be US$ 210.05 per Kg. For 2023, the export price is predicted to be US$ 230.00 per Kg.The Malaysia palm oil exports are categorised as:
- Crude palm oil (HS code 151110)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
Malaysia Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into Malaysia has seen a steady decline over the past five years. In 2011, the price was 0.98 US dollars per kg, and by 2021, it had dropped to 0.61 US dollars per kg. This downward trend was briefly interrupted in 2016, when the price rose to 0.73 US dollars per kg, before dropping again in 2017. In 2020, the price rose again to 0.99 US dollars per kg, before reaching its highest point in 2021 at 1.27 US dollars per kg. Based on this trend, it is likely that the price of Palm Oil will continue to decrease in the next two years, with a predicted price of 0.56 US dollars per kg in 2023 and 0.51 US dollars per kg in 2024.Export values for Malaysia palm oil
The total values in export for palm oil in Malaysia were US$ 19,812,060, US$ 21,137,178, US$ 18,658,354 and US$ 17,561,718 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Malaysia: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of palm oil in other countries across Asia: Kazakhstan palm oil, Kyrgyzstan palm oil, Tajikistan palm oil, Turkmenistan palm oil, Uzbekistan palm oil, China palm oil, Hong Kong palm oil, Macao palm oil, North Korea palm oil & Mongolia palm oil.
Malaysia palm oil - Production, Exports, Imports, Seasons and HS Codes
The volume of palm oil sold by Malaysia in 2020 was 30,879,138 metric tons. In 2019 Malaysia shipped 31,725,800 tonnes of palm oil. Across 2019 alone, the market for Malaysia palm oil (processed category) has surged, flactuating by 9.534 percent compared to the year 2018. Between 2017 and 2019, palm oil's exports went up by 10.52 percent netting Malaysia US$17,561.72m for the year 2019. Malaysia's palm oil exports are classified as:
- Crude palm oil (HS code 151110)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
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Malaysia palm oil export values
In 2019, Malaysia shipped palm oil worth 17,561.72m USD, a decrease of -5.88% from 2018's total palm oil export of 18658.354m USD. The annual reduction in value of Malaysia palm oil between 2017 to 2018 was -11.727 percent.
The yearly change in the amount of Malaysia's palm oil exports between 2017 and 2019 was 10.52% in comparison to a variation of 9.534% in the period between 2018 and 2019.
Export markets for Malaysia palm oil ( in '000$ )
Malaysia's top export markets for palm oil are the Netherlands, China, Afghanistan, Benin and US.
Malaysia procured 2,730,456 tonnes of palm oil in 2019.
Production
The production of palm oil in Malaysia was 792,522,880 tonnes in 2019 and is predicted to change by an average of 0.66%. The country had an estimated 41,734,576.00 hectares under palm oil cultivation.