What is the price of palm oil per kilogram/pound in Papua New Guinea today?
The retail price range for Papua New Guinea palm oil is between US$ 0.49 and US$ 1.18 per kilogram or between US$ 0.22 and US$ 0.54 per pound(lb). Click here to see today's exact prices of palm oil in Papua New Guinea
The retail price range in Kina for palm oil is between PGK 1.74 and PGK 4.17 per kilogram or between PGK 0.79 and PGK 1.89 per pound(lb) in Port Moresby and Lae.
Wholesale prices
In 2024, the approximate wholesale price range for Papua New Guinea palm oil is between US$ 0.35 and US$ 0.83 per kilogram or between US$ 0.16 and US$ 0.38 per pound(lb).
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Papua New Guinea palm oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Papua New Guinea exported 800,366 tonnes of palm oil. For 2019 alone, the demand for Papua New Guinea palm oil (processed category) has improved, with a change of 7.221 % compared to the year 2018. Between 2017 and 2019, palm oil's exports grew by 9.4 percent earning Papua New Guinea US$475.05m for the year 2019. Papua New Guinea's palm oil exports are categorised as:
- Crude palm oil (HS code 151110)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
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Papua New Guinea palm oil export values
In 2019, Papua New Guinea shipped palm oil worth 475.05m USD, a decrease of -14.83% from 2018's total palm oil export of 557.788m USD. The annual reduction in value of Papua New Guinea palm oil between 2017 to 2018 was -9.275 percent.
The annual change in the amount of Papua New Guinea's palm oil exports between 2017 and 2019 was 9.4 pc when compared to a variation of 7.221% in the growth rate between 2018 and 2019.
Export markets for Papua New Guinea palm oil ( in '000$ )
Papua New Guinea's leading export markets for palm oil are the Netherlands, South Korea, China, Belgium and Kenya.
Papua New Guinea imported 21,991 tonnes of palm oil in 2019.
Production
The production of palm oil in Papua New Guinea was 10,727,512 tonnes in 2019 and is projected to change by an average of 3.5%. The country had an estimated 793,920.00 hectares under palm oil cultivation.