Palm Oil Prices

Palm oil prices averaged USD 1,392 per metric ton in November, up 10.0% from October. On 29 November, the commodity traded at USD 1,420 per metric ton, up 11.8% from 31 October.

Supply concerns drove the fourth consecutive price jump in November, as adverse weather in key producer Malaysia exacerbated mounting fears over the country’s weak production. On the demand side, recent reports of surging imports in India plus measures to boost growth in China lent further support to prices.