Commodity Snapshot
News
| Date | Open | Close | Daily High | Daily Low |
|---|
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.
