Palm kernel oil prices exhibit an upward trend globally in November 2023

Across the global market, including the US and European regions, the prices of Palm Kernel Oil witnessed an escalated market trend throughout November 2023. One of the key factors supporting this increase in prices includes high demand for Palm Kernel Oil, which has surged across several industries, compounding supply chain issues. Palm Kernel Oil is a versatile ingredient extensively used in the food, cosmetics, and pharmaceutical sectors. The growing popularity of Palm Kernel Oil in various applications, coupled with its unique properties, has led to increased demand that the current disrupted supply chain struggles to meet. The food industry has seen a rise in the consumption of various vegetable oils, including Palm Kernel Oil and other edible oils, owing to the arrival of the festive months and winter seasons, which typically surges its usage. Further supporting other sectors, including the cosmetic industry, which generally relies heavily on Palm Kernel Oil for its ...