Global: Palm kernel oil prices soar by 27% in October

IndexBox has just published a new report: ‘World – Palm Kernel And Babassu Oil – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings. Prices for palm kernel oil spiked by 27% over the month, reaching $1,807 in October 2021. Compared to this year’s January figures, the prices soared by +32%. In 2020, palm kernel exports dropped by -3.1% y-o-y in physical terms but grew by +8.9% y-o-y in value terms, reaching $2.5B. Indonesia remains the largest supplier, accounting for 56% of global exports of palm kernel oil. China, the U.S. and Germany constitute the most prominent importers of the product. Palm Kernel Oil Prices Related Content: According to World Bank’s data, the global price for palm kernel oil spiked by 27% over a month, increasing from $1,427 per tonne in September to $1,807 in October 2021. Since the beginning of this year, the global price grew by +32%, rising from $1,368 per tonne in January to $1,807 per tonne in October ...