What is the price of palm oil per kilogram/pound in New Zealand today?
The retail price range for New Zealand palm oil is between US$ 6.16 and US$ 14.20 per kilogram or between US$ 2.79 and US$ 6.44 per pound(lb). Click here to see today's exact prices of palm oil in New Zealand
The retail price range in New Zealand Dollar for palm oil is between NZD 9.80 and NZD 22.60 per kilogram or between NZD 4.44 and NZD 10.25 per pound(lb) in Wellington and Auckland.
Wholesale prices
In 2024, the approximate wholesale price range for New Zealand palm oil is between US$ 4.31 and US$ 9.94 per kilogram or between US$ 1.96 and US$ 4.51 per pound(lb).
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New Zealand Palm Oil Export Prices - Historical, Trends and Prediction
The export price of Palm Oil from New Zealand has seen a lot of fluctuation over the past five years. In 2011, the price was 2.07 US$ per kg, which rose to 3.75 US$ per kg in 2012. However, the price dropped to 1.57 US$ per kg in 2013 and then rose again to 3.21 US$ per kg in 2014. In 2015, the price dropped to 0.68 US$ per kg and then rose to 2.92 US$ per kg in 2016. The price then dropped to 0.74 US$ per kg in 2017 and 0.81 US$ per kg in 2018. In 2019, the price rose to 1.21 US$ per kg and then to 1.29 US$ per kg in 2020. The price then rose to 1.35 US$ per kg in 2021 and 2.06 US$ per kg in 2022. Based on this data, it is predicted that the export price of Palm Oil from New Zealand will be 2.20 US$ per kg in 2023 and 2.35 US$ per kg in 2024.The exports of palm oil from New Zealand are classified as:
- Crude palm oil (HS code 151110)
- 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)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
New Zealand Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into New Zealand over the last five years has been quite volatile. In 2017, the price was at its lowest point of $0.74, before increasing to $1.21 in 2019. The price then dropped slightly to $1.29 in 2020, before rising to $1.35 in 2021. The most recent data shows that the price has increased to $2.06 in 2022. Looking ahead, it is likely that the price of Palm Oil will continue to fluctuate in the coming years. Based on the data, it is predicted that the price of Palm Oil will be $2.20 in 2023 and $2.35 in 2024.Export values for New Zealand palm oil
The total values in export for palm oil in New Zealand were US$ 260, US$ 106, US$ 52 and US$ 47 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in New Zealand: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of palm oil in other countries across Oceania: Fiji palm oil, French Polynesia palm oil, Guam palm oil, Micronesia palm oil, New Caledonia palm oil, Papua New Guinea palm oil, Samoa palm oil, Solomon Islands palm oil, Tonga palm oil & Vanuatu palm oil.
New Zealand palm oil - Production, Exports, Imports, Seasons and HS Codes
The amount of palm oil exported by New Zealand in 2020 was 14 metric tonnes. In 2019 New Zealand exported 39 tonnes of palm oil. Through 2019 alone, the interest in New Zealand palm oil (processed category) has reduced, flactuating by -39.062 pc compared to the year 2018. Between 2017 and 2019, palm oil's exports decreased by -72.92 percent netting New Zealand US$0.05m for the year 2019. New Zealand's palm oil exports are classified as:
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Crude palm oil (HS code 151110)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
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New Zealand palm oil export values
In 2019, New Zealand shipped palm oil with a value of 0.05m USD, a reduction of -3.85% from 2018's total palm oil export of 0.052m USD. The yearly change in value of New Zealand palm oil between 2017 to 2018 was -50.943 per cent.
The annual/yearly variation in the volume of New Zealand's palm oil exports between 2017 and 2019 was -72.92 per cent when compared to a variation of -39.062% in the growth rate between 2018 and 2019.
New Zealand's share of the world's total palm oil's exports in 2019 was less than 1%. The country is ranked position 21 in world exports of palm oil.
Export markets for New Zealand palm oil ( in '000$ )
New Zealand's top destinations for palm oil are Malaysia, Solomon Islands, Fiji, Indonesia and Australia.
Import/Export Trends
New Zealand is a net exporter of palm oil. The annual growth of New Zealand palm oil in value between 2015 to 2019 was 9%, per year, while annual growth in quantity for the same period was 9%, per annum.
New Zealand bought 24,714 tonnes of palm oil in 2019.