What is the price of palm oil per kilogram/pound in Saudi Arabia today?
The retail price range for Saudi Arabia palm oil is between US$ 5.36 and US$ 6.33 per kilogram or between US$ 2.43 and US$ 2.87 per pound(lb). Click here to see today's exact prices of palm oil in Saudi Arabia
The retail price range in Saudi Riyal for palm oil is between SAR 20.09 and SAR 23.74 per kilogram or between SAR 9.11 and SAR 10.77 per pound(lb) in Riyadh and Jeddah.
Wholesale prices
In 2024, the approximate wholesale price range for Saudi Arabia palm oil is between US$ 3.75 and US$ 4.43 per kilogram or between US$ 1.70 and US$ 2.01 per pound(lb).
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Saudi Arabia Palm Oil Export Prices - Historical, Trends and Prediction
In 2021, the export price of Palm Oil from Saudi Arabia was US$ 0.42 per Kg. In 2020, the export price was US$ 0.12 per Kg, in 2019 it was US$ 0.09 per Kg, in 2018 it was US$ 0.09 per Kg, and in 2017 it was US$ 0.12 per Kg. For 2023, the predicted export price of Palm Oil from Saudi Arabia is US$ 0.42 per Kg.The exports of palm oil from Saudi Arabia are categorised as:
- 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)
- Crude palm kernel and babassu oil (HS code 151321)
Saudi Arabia Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into Saudi Arabia has seen a fluctuating trend over the last five years. In 2016, the price was at its lowest at $1.77 per kg, before rising to $2.22 in 2014. In 2017, the price dropped to $2.19 per kg, before declining further to $1.82 in 2018. The price then dropped to its lowest in the last five years at $1.72 per kg in 2019, before rising to $2.63 per kg in 2021. Based on this trend, it is predicted that the import price per kilogram of Palm Oil into Saudi Arabia will be $2.45 in 2023 and $2.27 in 2024.Export values for Saudi Arabia palm oil
The total values in export for palm oil in Saudi Arabia were US$ 28,079, US$ 28,544, US$ 19,333 and US$ 20,018 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Saudi Arabia: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of palm oil in other countries across Middle East: Bahrain palm oil, Cyprus palm oil, Iraq palm oil, Israel palm oil, Jordan palm oil, Kuwait palm oil, Lebanon palm oil, Palestine palm oil, Oman palm oil & Qatar palm oil.
Saudi Arabia palm oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 Saudi Arabia shipped 11,641 tonnes of palm oil. For 2019 alone, the demand for Saudi Arabia palm oil (processed category) has improved, changing by 9.779 per cent compared to the year 2018. Between 2017 and 2019, palm oil's exports went down by -10.64% netting the country US$20.02m for the year 2019. Saudi Arabia's palm oil exports are categorised as:
- Crude palm kernel and babassu oil (HS code 151321)
- Crude palm oil (HS code 151110)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
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Saudi Arabia palm oil export values
In 2019, Saudi Arabia exported palm oil worth 20.02m USD, an improvement of 3.55% from 2018's total palm oil export of 19.333m USD. The annual growth in value of Saudi Arabia palm oil between 2017 to 2018 was -32.269 per cent.
The annual/yearly change in the amount of Saudi Arabia's palm oil exports between 2017 and 2019 was -10.64 pc when compared to a variation of 9.779% in the growth rate between 2018 and 2019.
Export markets for Saudi Arabia palm oil ( in '000$ )
Saudi Arabia's best performing export markets for palm oil are United Arab Emirates (UAE), Oman, Kuwait, Sudan and Jordan.
Saudi Arabia procured 543,204 tonnes of palm oil in 2019.