What is the price of palm oil per kilogram/pound in Philippines today?
The retail price range for Philippines palm oil is between US$ 0.82 and US$ 0.91 per kilogram or between US$ 0.37 and US$ 0.41 per pound(lb). Click here to see today's exact prices of palm oil in Philippines
The retail price range in Philippine peso for palm oil is between PHP 45.57 and PHP 50.59 per kilogram or between PHP 20.67 and PHP 22.94 per pound(lb) in Manila and Quezon.
Wholesale prices
In 2024, the approximate wholesale price range for Philippines palm oil is between US$ 0.57 and US$ 0.64 per kilogram or between US$ 0.26 and US$ 0.29 per pound(lb).
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Philippines Palm Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Palm Oil from Philippines over the last five years has been relatively stable. In 2017, the price was 0.96 US$ per kg, followed by a decrease to 0.56 US$ per kg in 2018. The price remained at 0.56 US$ per kg in 2019 and 2020, before increasing to 0.57 US$ per kg in 2021. The most recent data point is 1.02 US$ per kg in 2021. Based on this trend, it is predicted that the export price per kilogram of Palm Oil from Philippines in 2023 will be 0.60 US$ per kg and in 2024 will be 0.64 US$ per kg.The exports of palm oil from the Philippines are categorised as:
- 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)
- 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)
Philippines Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into Philippines has seen a steady decline over the past five years. In 2017, the price was 0.96 US $ per kg, which dropped to 0.56 US $ per kg in 2018. This downward trend continued in 2019, with the price dropping to 0.46 US $ per kg. In 2020, the price rose slightly to 0.57 US $ per kg, before increasing to 1.02 US $ per kg in 2021. Based on this trend, it is likely that the import price per kilogram of Palm Oil into Philippines will remain around 1.02 US $ per kg in 2023 and 2024.Export values for Philippines palm oil
The total values in export for palm oil in the Philippines were US$ 35,890, US$ 25,190, US$ 47,328 and US$ 28,592 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Philippines: 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.
Philippines palm oil - Production, Exports, Imports, Seasons and HS Codes
The volume of palm oil sold by the Philippines in 2020 was 64,604 tonnes. In 2019 The Philippines exported 61,704 tonnes of palm oil. Through 2019 alone, the interest in the Philippines palm oil (processed category) has shrunk, with a change of -26.723 per cent compared to the year 2018. Between 2017 and 2019, palm oil's exports increased by 136.16 pc netting the exporter US$28.59m for the year 2019. the Philippiness' palm oil exports are classified as:
- Crude palm oil (HS code 151110)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Crude palm kernel and babassu oil (HS code 151321)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
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Philippines palm oil export values
In 2019, the Philippines supplied palm oil valued at 28.59m USD, a reduction of -39.59% from 2018's total palm oil export of 47.328m USD. The annual change in value of the Philippines palm oil between 2017 to 2018 was 87.884%.
The yearly variation in the amount of the Philippiness' palm oil exports between 2017 and 2019 was 136.16 pc when compared to a variation of -26.723% in the growth rate between 2018 and 2019.
Export markets for Philippines palm oil ( in '000$ )
the Philippiness' top destinations for palm oil are Portugal, Cameroon, Sri Lanka, Malaysia and Morocco.
the Philippines imported 148,874 tonnes of palm oil in 2019.
Production
The production of palm oil in the Philippines was 3,994,456 tonnes in 2019 and is predicted to change by an average of -0.23%. The country had approximately 502,680.00 hectares under palm oil cultivation.