Palm Oil Price Trend and Forecast

Description

In North America, due to a decline in demand from downstream industries, the Palm Oil Price declined in the fourth quarter of 2022. Due to the lifting of the prohibition on Indonesian Palm Oil exports during the first half of Q4 2022, product prices declined. Countries in the Asia Pacific, especially Indonesia and Malaysia, are where North American nations import their Palm Oil. Due to an abundance of inventory in its local market, the product’s price was reduced in the second half of Q4 of 2022. The abrupt lifting of the embargo from Indonesia led to sustained demand from the downstream sectors and a decrease in the price of the product. Towards the end of Q4 2022, the price of Palm Oil was recorded to be USD /MT for the USA in September 2022.

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