Palm oil prices averaged USD 1,580 per metric ton in March, up 2.8% from February. On 31 March, the commodity traded at USD 1,485 per metric ton, down 10.0% from 28 February.
Palm oil was the only agricultural commodity tracked by our panel of analysts to trade higher in March, with prices rising to a near three-year high in the month chiefly on the back of stronger demand from top importer India. Declining Malaysian stocks and production also fueled the price rise.
This chart displays Palm Oil (US$/mt) from 2023 to 2025.
Palm Oil (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Palm Oil | - | 955 | 961 | 927 | 999 | 1,037 | 1,082 | 1,353 |