Palm oil prices averaged USD 1,152 per metric ton in September, up 7.9% from August. On 30 September, the commodity traded at USD 1,230 per metric ton, up 11.3% from 30 August.
September marked the second consecutive month of rising prices and was predominantly driven by expectations of stronger demand ahead. Markets anticipate that imports from India will surge by year-end, buoyed by the upcoming festival season. New stimulus measures adopted in China also lifted demand expectations.
This chart displays Palm Oil (US$/mt) from 2022 to 2024.
Palm Oil (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Palm Oil | 993 | 955 | 961 | 927 | 999 | 1,037 | 1,082 | - |