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An explainer describes how palm oil prices reached their highest level since mid-2022 in late 2024, peaking at about 5,195 ringgit a ton on November 11. The article attributes the rise mainly to seasonal supply tightness, with RSPO standards and EUDR deadline concerns adding some buying and uncertainty.
Understanding that supply tightness drove the spike helps buyers judge whether high palm oil prices will persist or ease as supply returns, and why some switched to other fats.
foodnavigator.comAugustus Bambridge-SuttonJan 16, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
