909.578629708282 2.08866091648542 0.23%
Official Close 3/17/2023 MI Indication


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907.49
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Unit conversion for Palm Oil Price Today

Conversion Palm Oil Price Price
1 Ton = 1,000 Kilograms Palm Oil Price Per 1 Kilogram 4.07 USD

Agriculture

Name Price % Unit Date
Cotton 0.79 1.78 USD per lb. 3/19/23 09:53 PM
Oats 3.46 -0.65 USD per Bushel 3/19/23 09:54 PM
Lumber 452.40 3.15 USD per 1.000 board feet 3/17/23 04:05 PM
Coffee 1.82 2.68 USD per lb. 3/17/23 11:23 AM
Cocoa 2,103.00 -2.05 GBP per Ton 3/17/23 12:55 PM
Live Cattle 1.62 0.05 USD per lb. 3/17/23 02:05 PM
Lean Hog 0.80 0.57 USD per lb. 3/17/23 02:05 PM
Corn 6.30 -0.71 USD per Bushel 3/19/23 09:54 PM
Feeder Cattle 1.89 -0.41 USD per lb. 3/17/23 02:05 PM
Milk 18.06 0.17 USD per cwt.sh. 3/17/23 02:15 PM
Orange Juice 2.43 0.39 USD per lb. 3/17/23 02:00 PM
Palm Oil 4,069.00 -0.37 MYR per Ton 3/17/23 06:00 AM
Rapeseed 467.50 -1.06 EUR per Ton 3/17/23 01:30 PM
Rice 17.12 -0.29 USD per cwt. 3/19/23 09:44 PM
Soybean Meal 465.90 0.11 USD per Ton 3/19/23 09:54 PM
Soybeans 14.72 -0.30 USD per Bushel 3/19/23 09:54 PM
Soybean Oil 0.57 -0.45 USD per lb. 3/19/23 09:54 PM
Wheat 266.25 -1.21 EUR per Ton 3/17/23 01:30 PM
Sugar 0.21 -0.34 USD per lb. 3/17/23 01:00 PM

Palm Oil

Palm oil has several applications including cooking, lubricants, candle-making, cosmetics, and can even be eaten prior to being crushed. The price of palm oil fluctuates based on supply, weather, competing oils, environmental concerns, and biofuel demand. It is cheaper to produce biofuel using palm oil making it a cost-efficient substitute to using soybeans or other crops. (read more)

Historians believe that the use of palm plants as a food source dates back 5,000 years ago to West Africa. Oil palm trees grow in warm climates that have an abundance of rain and sunshine such as Malaysia and Indonesia. The seeds are planted in small containers and are kept separate for about a year until they are mature enough to move into the farm. The plants are then cultivated by farmers until it is time to reap the fruits, usually 30 months after planting. The fruit is then steamed and transported to the pressing machines. Palm plants produce two tradable commodities. The pulp of the tree is crushed to form palm oil while the seed is crushed to form palm kernel oil.