For the Quarter Ending June 2023
North America:
In the North American region, Palm Kernel Oil (PKO) prices experienced a diverse market trajectory. The initial months of the second quarter saw a continued rise in prices. Importing activity maintained a moderate pace, while supplies from exporting nations, particularly Malaysia, a key player in PKO exports, remained weak. This disruption influenced the overall market trend until April 2023. As the middle of Q2 approached, global prices of PKO witnessed a considerable decline. This drop was attributed to sluggish regional trade and increased stocks in warehouses. Economists and business experts noted a decrease in the US inflation rate. Despite lower energy prices, underlying inflation remained noteworthy, surpassing the Federal Reserve's target. Despite challenges, domestic producers with substantial inventories managed to meet local demands. Nevertheless, food inflation in the US surged to 10.1% in May 2023 from 8.6% in April. By the end of Q2, Palm Kernel Oil prices in the United States stabilized. A moderate rise in domestic demand was balanced by sufficient supplies from merchants.
Asia Pacific:
Across the Asia Pacific (APAC) region, Palm Kernel Oil (PKO) prices displayed a varied trajectory, particularly in Malaysia, a significant PKO exporter. The initial half of Q2 2023 exhibited fluctuating PKO prices in Asia. The fluctuations predominantly occurred near the peak of the price curve. During the transition within the quarter, reverse fluctuations emerged, largely due to increased demand during Ramadan, which strained supply. Moving forward, PKO prices gradually declined in the region around mid-Q2. This decline was attributed to heightened outputs from Malaysia and other major palm oil producers, coupled with subdued demand from suppliers. In May 2023, amid weakened demand, Malaysia's Manufacturing PMI dropped to 47.8 from April's 48.8, marking the ninth consecutive month of decline. This marked the most significant decrease since January 2023. For the ninth month in a row, new orders dwindled, with the latest decline being the sharpest in three months due to restrained demand on both domestic and global fronts. Supplier delivery times shortened for the fifth consecutive month, while purchasing activity reached its lowest point in nearly two years. As Q2 concluded, the National Palm Kernel Oil Board reported a slower-than-expected increase in palm kernel oil inventories, attributed to decreased production and increased exports. Furthermore, the Manufacturing Purchasing Managers Index (PMI) indicated a YoY figure of 47.7 in June, slightly below May's 47.8. The region's domestic retailers maintained sufficient inventory to cater to demand.
Palm Kernel Oil Prices: https://www.chemanalyst.com/Pricing-data/palm-kernal-oil-1527
Europe:
In the European market, PKO prices during Q2 2023 mirrored those of the Asia Pacific. At the onset of Q2, prices for PKO experienced a widespread increase. Prior to Ramadan, supply disruptions, primarily from exporting countries such as Malaysia, a major PKO exporter to the Netherlands, played a significant role. This disruption affected the availability of various cooking oils, including PKO, within the nation. Weaker market fundamentals, however, led to a substantial price decline after April, concluding Q2 with frequent fluctuations on a negative note. Market demand waned due to cautious consumer behavior and the cost inflation stemming from the Russia-Ukraine conflict. Approaching June, prices maintained stability, finding a balance between regional supply and demand dynamics. With merchants holding higher inventories, effectively addressing demand, trading activity remained limited through June.
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Plum Oil also known as Plum Seed Oil or Plum Kernel Oil is a cold pressed, virgin oil extracted from the seeds or kernels of French Ente plums.
This oil possesses revitalizing, hydrating and antioxidant properties which prevents the chances of signs of ageing.
It is used for aromatherapy uses and skin care products.
The oil results clear to golden yellow in color.
It has mild, sweet, marzipan and nutty aroma with neutral odor.
It has high content of Polyunsaturated essential fatty acids such as Oleic acid and Linoleic acid.At present, the manufactures of Plum Kernel Oil are concentrated in North America, Europe, Japan, India.
Nov 29, 2018 (MarketersMedia via COMTEX) -- Palm Oil Market Global Research Report by Type (Crude Palm Oil, Palm Kernel Oil and others), Application (Edible Oil, Bio-Diesel, Lubricants, Cosmetics and others) and Region (North America, Europe, Asia Pacific and Row) - Forecast till 2023
pune, India - November 29, 2018 /MarketersMedia/ --
The global palm oil market is predicted to expand at 7.6% CAGR over the forecast period (2017-2023) owing to its extensive demand in several applications such as bio-diesel, cooking, lubricants, and more, asserts Market Research Future (MRFR).
Future Drivers and Constraints Impacting the Market
Palm oil is witnessing a high demand in the global market as it can be used as a bio-diesel, cooking oil, cosmetics, lubricants, and others.
More than 90 institutional investors representing $6.7 trillion in assets under management have written to the Roundtable on Sustainable Palm Oil (RSPO) calling on it to strengthen its green certification standards for palm oil production.
